The S&P/ASX 200 Index (ASX: XJO) is on course to end the week with a small gain. In afternoon trade, the benchmark index is up 0.2% to 6,978.3 points.
Four ASX shares that are climbing more than most today are listed below. Hereâs why they are rising:
Corporate Travel Management Ltd (ASX: CTD)
The Corporate Travel Management share price is up almost 4% to $17.37. This may have been driven by a broker note out of Morgan Stanley. It has retained its overweight rating and $28.00 price target. The broker feels the market is being too negative and believes the company can achieve its guidance in FY 2023.
Kingsgate Consolidated Limited (ASX: KCN)
The Kingsgate share price has jumped 17% to $1.77. Investors have been buying this gold minerâs shares after it announced the official reopening of its Chatree mine in Thailand. This follows the granting of approval from the Department of Primary Industries and Mines. Management described it as âa truly remarkable moment.â
Liontown Resources Ltd (ASX: LTR)
The Liontown share price is up 4% to $1.59. This is despite there being no news out of the lithium developer. However, it is worth noting that a number of lithium shares are climbing today. Some investors may believe a buying opportunity has opened up following heavy declines in recent sessions.
Neuren Pharmaceuticals Ltd (ASX: NEU)
The Neuren Pharmaceuticals share price is up a further 8% to $13.40. This biotech companyâs shares have been on fire this week thanks to news that its treatment for Rettâs Syndrome has been granted US FDA approval. This is the first and only approved treatment for the rare genetic neurological and developmental disorder that affects the way the brain develops. It is expected to be available by the end of April 2023.
The post Why Corporate Travel Management, Kingsgate, Liontown, and Neuren shares are racing higher appeared first on The Motley Fool Australia.
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More reading
- 2 ASX 300 shares cracking record highs on Friday
- Why Atlantic Lithium, Life360, Neuren, and Whitehaven Coal shares are charging higher
- This ASX 300 healthcare stock is up 48% in 3 days. Broker says buy
- Why Kingsgate, Neuren, Newcrest, and Pushpay shares are rising today
- 5 things to watch on the ASX 200 on Tuesday
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Corporate Travel Management. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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