Pharma Stock Surging on Upbeat Covid-19 Treatment Data

The stock is getting ready to topple several layers of resistance

Digital Content Manager
Apr 11, 2022 at 9:27 AM
facebook X logo linkedin

Another company could be joining the ranks of Covid-19 treatment producers: Veru Inc (NASDAQ:VERU). The biopharmaceutical firm this morning released upbeat results for its Phase 3 Covid-19 oral treatment, showing that the oral sabizabulin treatment led to a "clinically and statistically meaningful" 55% reduction in deaths in hospitalized adults. The shares of Veru are soaring in response, last seen up 29.9% at $5.65. 

VERU is set to open at its highest level since early March this morning. Should these gains hold, it could also topple dual resistance at its $5.50 level and its 30-day moving average, which rejected a rally attempt late last month. VERU came into today sporting a 58% year-over-year deficit, and on Friday's session, the stock touched an annual low of $4.34. 

Despite this recent rout, analysts remain optimistic. All five in coverage call it a "strong buy." What's more, the 12-month consensus price target of $24.20 is an eyebrow-raising 320.1% premium to last night's close. 

Short sellers are hitting the exits, with short interest falling 11.7% in the last reporting period, but there's still room for a short squeeze to push the stock higher. The 3.25 million shares sold short make up 5.4% of the stock's available float, and would take nearly three days to cover, at VERU's average daily pace of trading. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI