Aerpio Pharmaceuticals Inc (NASDAQ:ARPO) Stock Breakout Alert: How to Trade This Week?
Bullish research reports can often lead to a strong rally in stocks and that is what seemed to have happened with the Aerpio Pharmaceuticals Inc (NASDAQ:ARPO) stock.
The stock delivered gains of as much as 45% last week and it was primarily due to the bullish report from the investment bank H. C. Wainwright. In that report, Robert Burns, the analyst H.C. Wainwright upgraded the rating of the stock from Neutral to Buy. Hence, it was no surprise that the Aerpio stock enjoyed a strong rally. However, it is not going to be interesting to see if the stock can actually hold on to its momentum this week.
In addition to that, the target price for the Aerpio stock has also been set at $22 a share. As per the analyst, the Aadi Bioscience transaction that Aerpio engaged could well prove to be ‘transformative’ for the company and that seems to be one of the reasons behind the bullish report. He went on to state in his report that the transaction is going to help Aerpio in becoming a commercial stage enterprise, which is self sustaining in nature. Investors could do well to keep the stock in their news alerts for the coming days.
Market Reaction:
On Friday, ARPO stock fell 10.40% at $2.50 with more than 20.31 million shares, compared to its average volume of 9.83 million shares. The stock had moved within a range of $2.2800 – 2.5400 after opening the trade at $2.51. Over the past 52-week, the stock has been trading within a range of $0.9540 – 3.3200.
