Why Seelos Therapeutics Stock Is Skyrocketing Today

Shares of Seelos Therapeutics (NASDAQ: SEEL) were skyrocketing 35.2% higher as of 11:01 a.m. EST on Friday. The huge gain came after BTIG initiated coverage on the stock with a buy recommendation and a one-year price target nearly 4.7 times higher than Seelos' closing price on Thursday.

Investors shouldn't buy a biotech stock (or any other stock, for that matter) just because an analyst likes it. However, it's always a good idea to gain an understanding of the reasons behind the bullish view.

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Source Fool.com