Medical Stocks: Veru Stock News: On this day last week VERU stock was trading around $4.50!

ING Economics: "Bank Pulse: Smaller banks more at risk with MREL compliance"

VERU stock is technically bullish as per the daily chart's structure. The price has bust towards the 2021 weekly structure and is taking on the resistance leaving a very strong weekly candlestick in place. If the bulls commit, then there is scope for a surge towards the psychological 20.00 mark. However, there could be a meanwhile correction according to the 4-hour chart as the price decelerates and potentially moves back to test the prior resistance near 13.80.

VERU stock was in fact trading higher during premarket trading but has given up some gorund

VERU stock is trading higher again on Thursday in the regular session as it trades at $14.93for a gain of just under 5% at the time of writing. VERU stock was in fact trading higher during premarket trading but has given up some gorund.

On this day last week VERU stock was trading around $4.50!

VERU stock returned to the skies on Wednesday as it added over 42% to recent gains following on from a slight lull on Tuesday. VERU spiked 182% on Monday before dropping nearly 20% on Tuesday as some profit-taking most likely hit. But buyers were once again out in force on Wednesday and VERU closed up at $14.30. For reference, on this day last week VERU stock was trading around $4.50!

VERU stock news

VERU went parabolic on Monday when news broke of a positive outcome from Phase 3 results of its covid drug sabizabulin. The drug showed a 55% reduction in deaths compared to the placebo treatment in hospitalized patients with moderate to severe covid-19. VERU is to apply to the US FDA for emergency use authorization. This was what sent VERU stock soaring as investors rushed to get a piece of the action. The analyst community was not far behind with some eye-catching price targets announced by Wall Street. According to Tipranks, Oppenheimer said “With the global pandemic showing little sign of abating and BARDA to be allocated $9.25B in additional COVID-19 funding, we believe sabizabulin will serve critical roles in the US and abroad.” Oppenheimer has put a $36 price target on VERU shares. We also note that Jefferies has a $33 price target and HC Wainright has a buy rating with a $24 price target. Brookline has a $29 price target and Cantor Fitzgerald has a $24 price target. So VERU has an average price target of $29.2 with every analyst having either a buy or outperform rating on VERU stock. So this one could have even more to run.

From $10 to $23 in a matter of days after VERU announced positive Phase 2 trial data for Veru 111

Back in February 2021, we saw a similar spike in the VERU stock price. It went from $10 to $23 in a matter of days after VERU announced positive Phase 2 trial data for Veru 111: "Veru Inc., an oncology biopharmaceutical company, announced positive efficacy and safety results from a double-blind, randomized, placebo-controlled Phase 2 clinical trial evaluating oral, once-a-day dosing of VERU-111 versus placebo in approximately 40 hospitalized patients at high risk for Acute Respiratory Distress Syndrome (ARDS) from SARS-CoV-2".

VERU stock forecast

Technical analysis on pharma stocks is largely tabo given their extreme reaction to newsflow and test results. What is key is to keep the momentum going. As mentioned this has already happened on the news of the Phase 2 trial results. So it is important to be aware that a lack of newsflow could see VERU stock stall. That could provide some the opportunity to buy the dip. The next stage is to get emergency use authorization from the FDA and that could be the next catalyst. But the timing is unclear. $10 is someway significant and should hold any retracement, breaking $10 is not a good sign in our view.

Veru Inc Stock News and Forecast: VERU moves in on weekly resistance - 1

VERU stock chart, daily

ING Economics: "Bank Pulse: Smaller banks more at risk with MREL compliance"

FXStreet News

FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market and was founded in 2000.
 
The website offers a wide range of tools and resources: 24/5 currency news, real-time economic calendar, advanced rates and charts, educational webinars, analysis reports, forecasts, Learning Center, newsletters, industry services, FX customizable studies...
 
As its distinctive trademark, the portal has always been proud of its unyielding compromise to provide neutral and unbiased information and to enable its users to take better and more confident decisions. FXStreet has managed to gain the collaboration of the entire Forex industry, from individual professionals and small companies right up to Forex Brokers and Investment Banks. FXStreet covers the FX Market 24/5: an expert team of journalists, traders and economists picture what the market is doing and what is happening as it happens.