What’s behind sudden rise in Targacept stock? – Triad Business Journal

Yes, the stock market has risen nicely this summer, regaining some of the losses from last fall and winter. But those gains are nothing compared to the performance of Targacept, which has spiked more than 500 percent in last six weeks — from $2.37 a share to $13 and above.

The Winston-Salem drug discovery company is slowly being discovered by a core group of investors on Wall Street. And it appears likely, though by no means assured, that more will be jumping on the bandwagon in the months ahead. And there’s a good reason why.