Auris Medical Holding AG (NASDAQ: EARS) is having an incredibly strong day in the market today, and for good reason. The company was the subject of two analyst coverage initiations, both of which had very positive views with regard to what to expect from the stock ahead. Today, we’ll talk about:
- The analyst coverage;
- what we’re seeing from EARS stock as a result; and
- what we’ll be watching for ahead.
Why EARS Is Up
As mentioned above, Auris Medical Holding is having an incredibly strong start to the trading session this morning after multiple analysts have initiated bullish coverage on the stock. Both Alliance Global Partners and Eurobank EFG initiated coverage on EARS, both rating it a hold and both setting a price target at $2.50.
The $2.50 price target suggests a premium of more than 400% to Friday’s closing price, suggesting that EARS will see serious gains ahead. Before the coverage initiation, the stock was already enjoying what seemed to be the beginning of a squeeze. Now, there’s no doubt, shorts are quickly being squeezed out of the stock as it continues to climb on incredible trading volume.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Auris Medical, the news proved to be overwhelmingly positive. After all, two of the most trusted analysts on the street have weighed in with positive opinions. So, it comes as no surprise that excited investors are sending the stock screaming for the top. As is normally the case, our partners at Trade Ideas were the first to alert us to the gians. Currently (11:46), EARS is trading at $0.75 per share after a gain of $0.28 per share or 59.47% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on EARS. In particular, we’re interested in following the story surrounding the company’s continued development of its impressive pipeline. Keep in mind, some assets are in late stages. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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