Seelos Therapeutics Inc (NASDAQ: SEEL) is having an overwhelmingly positive start to the trading session this morning, and for good reason. The company was initiated by one of the most trusted analyst firms on Wall Street, who has a positive opinion. Today, we’ll talk about:
- The analyst initiation;
- what we’re seeing from SEEL stock as a result; and
- what we’ll be watching for ahead.
SEEL Gains On Analyst Initiation
As mentioned above, Seelos is having a great day in the market today. However, if you’re looking for press releases or SEC filings, you’ll be hard pressed to find anything. Nonetheless, there’s a good reason for the gains.
Analyst firm, H.C. Wainwright initiated coverage on SEEL this morning, offering up a Buy rating. Moreover, the firm set a price target of $4 on the stock. The strong price target represents the potential for gains of nearly 40% on the stock.
Of course, strong analyst ratings are just about always a good thing. After all, analysts live, work and breathe the market. Their careers depend on their ability to make good predictions. So, when an analyst as trusted as H.C. Wainwright weighs in with a positive opinion, investors generally react by pushing the stock up.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Seelos Therapeutics, while the company didn’t release any meaningful news of its own, the analyst news proved to be positive.
After all, not only has the stock attacted the attention of a highly-trusted analyst, that analyst has weighed in with a positive opinion that suggests the potential for serious upside. So, it’s not surprising to see that excited investors are pushing the stock for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:00), SEEL is trading at $3.0399 per share after a gain of $0.18 per share or 6.29% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on SEEL. In particular, we’re interested in following the story surrounding the company’s continued work to bring its impressive pipeline candidates to market. Nonetheless, we’ll keep a close eye on the story and bring the news to you as it breaks!
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