Why Shares of BioVie Jumped 51.7% in February
Shares of clinical-stage biotech BioVie (NASDAQ: BIVI) rose 51.7% in February, according to data provided by S&P Global Market Intelligence. The healthcare company closed out January at $5.07, then rose to $7.88 on Feb. 28. It's worth noting that the run continued after the month ended, with the stock hitting $8.34 on March 1.
BioVie's stock has a 52-week low of $1.33 and a 52-week high of $14.38. The stock is up more than 79% over the past year, but even with the recent run-up, is down more than 22% so far this year.
The stock climbed most of the month and was given a boost when the company announced its upcoming "BioVie Day" to discuss the outcome of clinical trials. The company is working on therapies to treat neurological and neurodegenerative disorders, including Alzheimer's, Parkinson's, and advanced liver diseases. The stock was also helped when, on Feb. 14, Oppenheimer reiterated its outperform rating and price target of $12 for the stock.
Source Fool.com
