Atossa Therapeutics (ATOS) Stock Continues Up

Atossa Therapeutics Inc (NASDAQ: ATOS) is continuing on its path for the top in the market this morning after a more than 20% run yesterday. The gains came after an analyst weighed in on the stock, offering a price target increase and exciting investors. Here’s what’s going on:

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ATOS Stock Gets Price Target Upgrade

As mentioned above, today’s gains in Atossa Therapeutics stock are a continuance of what we saw yesterday after an analyst released a relatively bullish opinion. Edward Woo, an analyst at Ascendiant, increased the price target on the stock modestly from $7.75 per share to $8 per share, maintaining a Buy rating on the stock. 

While the price target increase was modest, the new target represents the potential for the stock to more than double from previous levels.  

The price target increase was centered around the company’s clinical-stage therapy known as Endoxifen. ATOS is developing Endoxifen as an orally available option for patients with various forms of cancer, most notably, breast cancer. 

Of course, the breast cancer market is a massive one. So, if Endoxifen continues to yield positive results, there’s huge potential for revenue and profits here. 

Most recently, the company published data from a phase 2 clinical study in Australia, one that it said, produced overwhelmingly positive results in terms of reduction of tumor cell activity. 

Nonetheless, as mentioned above, Endoxifen has shown promise in various cancers. One of the newest targets for the drug is ovarian cancer, an indication for which the FDA recently gave a greenlight for studies surrounding. 

Why This Sent The Stock Screaming For The Top

The price target increase was a relatively small one, only a quarter to be exact. So, why did it send ATOS screaming for the top in the market? There are a couple of reasons. 

First and foremost, Edward Woo is no shoddy analyst. In fact, he’s highly respected and one of a small percentage that have earned a five star rating on TipRanks. So, when such a well-respected analyst speaks, the investing community tends to listen. 

However, the gains go far further than that. There are a ton of investors that have held an overwhelmingly bullish position on the stock, and the price target increase further validates their views. Moreover, with Woo being such a noted analyst, the coverage brought the stock to the attention of many that didn’t know who, or what, the company was, ultimately increasing demand for the stock and lifting its price. 

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The Bottom Line

The bottom line here is that Atossa Genetics is making all the right moves at all the right times, and it’s paying off. Now, the company’s flagship candidate is headed into late-stage studies with rocket boosters on its back after producing positive data across several early and mid-stage studies. 

Should things continue to go well, the company is likely to break into incredibly high value indications, setting the stage for significant growth ahead and making ATOS stock one for the watchlist. 

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