Analyst Calls These 2 Drug Stocks a "Buy"

Both CRBP and NURO have been struggling on the charts

by Karee Venema

Published on Dec 26, 2018 at 3:14 PM

The shares of Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) are trading up 5.9% at $5.57, after H.C. Wainwright initiated coverage with a "buy" rating and $24 price target -- a more than 356% premium to Monday's close. The analyst in coverage said positive data from lenabasum trials could drive upside in the shares.

Analysts are already bullish on CRBP stock, with 100% of those covering the security calling it a "buy." Plus, the average 12-month price target sits all the way up at $23.43.

Looking at the charts, Corbus Pharmaceuticals stock has been in a channel of lower highs and lows since its early October peak at $8.57. Last week, the shares broke below short-term support at their 120-day moving average, and remain down 21.6% year-to-date. Should the security resume its longer-term downtrend, a re-evaluation from the upbeat analyst bunch could create headwinds for CRBP.

crbp stock chart on dec 26

H.C. Wainwright also chimed in on Neurometrix Inc (NASDAQ:NURO), starting coverage with a "buy" rating and $5 price target -- territory the penny stock hasn't explored since April 2017. The brokerage firm said it sees "plenty of room for the stock to appreciate," and said a new generation of its Quell technology could help grow market share.

At last check, NURO stock is 13.5% higher at $0.77, but running into resistance near its 20-day moving average. While this trendline has led the security on its most recent leg lower, the 200-day moving average has helped usher the shares to a 58% year-to-date loss.

nuro stock chart on dec 26


a schaeffer's exclusive

5 NEW STOCK PICKS

We're celebrating 38 years with this FREE insider report!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


What's Next for the American Wealth Gap
Porter Stansberry is predicting a major change in the American economic system.
RBS Stock Rises on New CEO Appointment
Alison Rose will be the first woman to serve as CEO to a major British lender
2 Energy Stocks Snap Back After Heavy Losses
Energy stocks CRC and MDR are rallying back from brutal selling earlier in the week
How the 2020 Election Will Affect the U.S. Economy
The 2020 election could see some major changes in the American economic system.