Why Boss Energy, Lynas, Neuren, and Ora Banda shares are rising today

These ASX shares are ending the week strongly. But why?

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The S&P/ASX 200 Index (ASX: XJO) is fighting hard to end the week on a positive note. In afternoon trade, the benchmark index is up slightly to 7,509 points.

Four ASX shares that are rising more than most today are listed below. Here's why they are climbing:

Boss Energy Ltd (ASX: BOE)

The Boss Energy share price is up 6% to $4.33. This morning, analysts at Macquarie retained their outperform rating and $5 price target on this uranium developer's shares. It was pleased to see the company announce its first sales contract this week.

Lynas Rare Earths Ltd (ASX: LYC)

The Lynas share price is up 4% to $7.07. Investors have been buying rare earths shares amid reports that China is banning the export of the technology required to process the elements. Rare earths are vital for the development of high-tech items like EVs, electronics, and numerous military applications. China has a near monopoly on the market, which makes Lynas an important alternative.

Neuren Pharmaceuticals Ltd (ASX: NEU)

The Neuren Pharmaceuticals share price is up almost 6% to $23.85. Investors have been buying this biotechnology company's shares this week following the release of strong top-line results from its Phase 2 trial evaluating NNZ-2591 for patients with Phelan-McDermid syndrome. There are currently no approved treatments for the syndrome.

Ora Banda Mining Ltd (ASX: OBM)

The Ora Banda share price is up almost 7% to 23.5 cents. This morning, this gold miner released an update on its farm-in agreement with Davyston Exploration, owned by Wesfarmers Ltd (ASX: WES), for non-gold mineral rights at the Davyhurst Project. Ora Banda advised that it has signed an amendment which means it will shortly receive the first $10 million cash payment.

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 positions in and has recommended Wesfarmers. The Motley Fool Australia has positions in and has recommended Wesfarmers. 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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