MMR

DBVT Breaks Out After Peanut Allergy Patch Update

Stifel upgraded DBVT to "buy" in response

Managing Editor
Jan 9, 2020 at 9:43 AM
facebook X logo linkedin


One of the better stocks on the Nasdaq this morning is DBV Technologies (NASDAQ:DBVT), up 16.6% to trade at $13.11. The French pharmaceutical company's peanut allergy patch Viaskin showed durable benefits in a study, prompting Stifel to raise its rating to "buy" from "hold."

While also upping its price target to $18 from $10, the analyst in coverage expects an independent panel vote or an approval later in 2020. Leerink also chimed in and noted Viaskin is a " safer and more patient friendly therapeutic alternative" than rival Aimmune Therapeutics' Palforzia treatment. Most of the analyst community is already bullish, with six out of nine giving out "buy" ratings, and the consensus 12-month price target sitting at $16.22, a 44.3% premium to last night's closing perch of $11.24.

DBVT stock is on track to post its best single-session gain since February 2018, and is currently trading at its highest point since a late-December 2018 bear gap. Late last month, the shares sliced through their 320-day moving average, and are now up 64% year-over-year. Plus, the biotech stock has turned in only six negative sessions since Dec. 2. 

If there's a word of caution to be said though, it's the stock's 14-day Relative Index (RSI). At the close last night, the equity's RSI settled firmly in overbought territory at 73, suggesting a caution should be exercised in the short term.

 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI.

Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
 (ad)