Seelos Therapeutics Inc (NASDAQ: SEEL) is screaming for the top in the market this morning, but if you’re looking for a press release, you’re not going to find anything. In fact, the company hasn’t issued any press or updates via SEC filing.
So, what’s the deal?
An analyst initiation seems to be sending the stock through the roof. Here’s what’s going on:
Analyst Coverage Sends SEEL Stock For The Top
In a recent note to investors, B. Riley analyst Chad Malby initiated coverage of Seelos Therapeutics. According to the note, Malby rated the stock a Buy, giving it an initial price target of $15 per share.
That price target suggests that in 12 months, the stock may be worth more than three times what it’s worth today.
The analyst suggests that the company’s work in various depression and anxiety-related disorders will pay off soon. With five programs in Phase 2 clinical studies, and three of those programs likely reaching Phase 3 studies in the coming quarters, the analyst points to multiple catalysts ahead.
Why Investors Care
The fact of the matter is that analysts live, eat, and breathe the market, and B. Riley is no small firm. In fact, it is one of the most well-respected financial firms on Wall Street with its analysts being considered five star players on the game field.
As a result, when analysts of this stature share an opinion, investors tend to latch on.
That’s exactly what’s taking place with Seelos Therapeutics this morning.
The Bottom Line
The bottom line here is simple. Seelos Therapeutics may be a relatively small company, but it’s grabbing the attention of big-name analysts, and the analysts have a positive opinion of the stock.
Moreover, the company is at a key stage in its growth.
With five programs in Phase 2 development, three of which will likely move into Phase 3 ahead, investors have quite a bit to look forward to in terms of catalysts.
All in all, if you’re not paying attention to SEEL stock, you may be missing out in a big way!