Shares of Veru (NASDAQ: VERU) jumped 38.4% on Tuesday following positive analyst commentary.
H.C. Wainwright analyst Yi Chen says investors should buy Veru's shares following the biotech company's promising phase 2 clinical trial results for VERU-111, its investigational oral drug for COVID-19 patients at high risk for acute respiratory distress syndrome.
Chen boosted his price forecast for Veru's stock from $12 to $17 after hospitalized COVID-19 patients treated with VERU-111 saw an 81% reduction in death or respiratory failure compared to those who received a placebo.
Source Fool.com