3 Momentum Stocks: Avenue Therapeutics (ATXI), Pasithea Therapeutics (KTTA), Biofrontera (BFRI)
There are plenty of stocks that have managed to perform strongly over the course of the past week or so and it is perhaps a good time for investors to take a look at some of those. Here is a look at three of those stocks which have managed to record significant gains in that period.
1 Avenue Therapeutics (NASDAQ:ATXI)
The first one to look into this week is the Avenue Therapeutics Inc stock, which has managed to emerge as one of the biggest gainers in the market over the course of the past week. Yesterday, the stock was in sharp focus among investors and ended the day with gains of as much as 53% as a consequence. The company is mainly involved in the development of intravenous tramadol that is meant for the United States market.
Yesterday, the company got a major boost after Avenue announced that it had been informed by the United States Food and Drug Administration that a meeting is going to take place on February 22, 2022, between the Drug Safety and Risk Management Advisory Committee and the Anesthetic and Analgesic Drug Products Advisory Committee.
At the meeting, the New Drug Application submitted by Avenue is going to be discussed by the committees. It is quite clear to see that it is a significant development for the company and hence, the market reacted positively to the news. At this point in time, it might be a good idea to keep the Avenue Therapeutics stock in your watch lists and keep an eye on the developments in the lead-up to February 15 next year.
2 Pasithea Therapeutics (NASDAQ:KTTA)
One of the stocks to have captured the imagination of investors in the past week is that of Pasithea Therapeutics. The stock has had a rollicking run over the course of the past week and managed to clock gains of as much as 80% during the period. There was no news about the company yesterday but the rally actually started in the stock last week after it emerged on November 22 that Pasithea had added its esketamine nasal spray to the range of offerings in the United Kingdom.
The nasal spray is being offered in the United Kingdom through the company’s subsidiary company Pasithea Clinics. The nasal spray in question is meant for treating adults who may be suffering from depression and have not found relief from other forms of treatment.
The company revealed that the spray is not only effective but it is also safe to use. Depression is a worldwide problem and is regarded as one of the major reasons behind long-term disabilities. Many patients suffer from any lack of treatment options and the nasal spray gives them an effective option. The excitement among investors with regard to the product is understandable.
3 Biofrontera (NASDAQ:BFRI)
Last but certainly not least, it is the Biofrontera stock that has grabbed headlines in recent days after having emerged as a major point of focus among investors. Over the course of the past week, the Biofrontera stock has rocketed upwards and managed to clock gains of as much as 175% during the period.
The rally in the Biofrontera stock has come about after a bullish projection from the analyst Jonathan Aschoff of Roth Capital. The analyst started covering the stock last week and set the target price at $20 a share. Aschoff noted that the stock could end up delivering considerable returns primarily due to the sales plans that have been put in place by Biofrontera for the United States market.