VERU Stock Price and News: At a closing price of $9.99, it looks like a discount for many

NASDAQ: VERU has extended its gains by another 7% on Wednesday.
While Veru Inc's shares hit a 26-year high, they may still provide opportunities.
Its treatment for breast cancer remains promising but faces competitors.

Veru Inc (NASDAQ: VERU) has closed Wednesday's session at $9.99 – a price tag reserved for stores offering sales. Is it indeed at a discount? Looking at the high point of the previous trading day – $11.16, there is room for a rise of over 10%. However, taking a look at Thursday's premarket trading, there is room for an extended downside correction to $9.84.

The Miami-based pharmaceutical firm's shares have leaped following a promising treatment to breast cancer – a disease that kills around 42,000 American women every year. At the current mortality rate of coronavirus – some 3,000 deaths every day – COVID-19 causes breast cancer's loss of life in a mere two weeks.

Nevertheless, investors are looking beyond the virus – to which a vaccine is already deployed – and to other illnesses. Veru's enobosarm has shown a six-month clinical benefit with o significant safety issues. The company already sells a drug for men called Preboost, which treats premature ejaculation.

In the field of breast cancer treatment, it is essential to note that competition is substantial. Greenwich Lifesciences (NASDAQ: GLSI) is also of interest to investors as its treatment promises to reduce the recurrence of the disease. GLSI jumped by around 1,000% in one day and remains highly volatile.

VERU Stock Forecast

NASDAQ: VERU is at the upper end of its recent trading range but below the 52-week high of $11.45. Zooming out, it has already traded at the highest levels since 1994. surpassing the 2013 peak. Back in the 1990s, it hit a high of $26 – a far cry.

In the nearer term, support awaits at $9.70 and $8.33.

More VERU to hit 26-year high after promising cancer treatment results

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