Schaeffer's 43rd Anniversary Stock Picks in 2024

FDA Dismissal Slams Pharma Stock

NBRV stock is on track for its worst day since July 2018

Digital Content Manager
May 1, 2019 at 10:28 AM
facebook X logo linkedin


The shares of Nabriva Therapeutics (NASDAQ:NBRV) are spiraling today, after the biopharmaceutical company's urinary tract infection (UTI) antibiotic drug, Contepo, was denied approval by the Food and Drug Administration (FDA). The FDA cited facility and manufacturing concerns for its decision. NRBV is down 16.6% at $2.49 today, set for its worst day since July 2018 -- much to the chagrin of recent option buyers

The equity bottomed out at an all-time low of $1.12 on Dec. 26, but subsequently more than doubled atop support from its 40-day moving average. Today, however, Nabriva stock is set to end beneath that trendline for the first time since January.

A round of analysts downgrades or price-target cuts could push the stock even lower, too. Currently, NBRV holds six "buy" or better ratings, and only one "strong sell." Plus, its lofty consensus 12-month price target of $9.50 represents a whopping 279% premium to current levels. 

Today's plunge likely has plenty of short sellers cheering, though NBRV is on the short-sale restricted list today. Short interest shot up nearly 66% in the last two reporting periods. The 68,000 shares sold short, however, only make up 2.5% of the stock's available float. 
 

A.I.’s Dirty Little Secret: The Real Power Behind The AI. Boom ✨

Anyone who’s seen the The Matrix movies knows that A.I. needs power.  Lots and lots of power.

If you’ve seen the movie, you also know the grizzly results of the ensuing battle for that power.

Now, Wall Street’s battle for A.I. power won’t go to such extremes. Hopefully?

A.I. needs more power and that means more opportunities for stock traders in the know.

Download your free copy of “The A.I. Revolution: 4 Stocks to Buy Now”!