Positive research reports can often do wonders to a stock and that is what seems to have happened with the Checkpoint Therapeutics (NASDAQ:CKPT) stock, which has soared by 25% this morning.

Justin Walsh, an analyst at B. Riley started covering the stock and gave it a buy rating as well. In addition to that, he set the target price for the Checkpoint stock at $18 a share. More importantly, the price target implies an upside of a staggering 577% from the last closing price of the stock.

Hence, it has not come as a surprise that investors piled on to the Checkpoint stock in a big way this morning. There has been no recent news about the company’s business operations but back in May Checkpoint had announced that it completed the enrolment for the clinical trial of its product cosibelimab. At this point, investors could consider keeping a close eye on any news with regards to Checkpoint Therapeutics.

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