What’s Propelling Innovate Biopharmaceuticals, Inc. (INNT) to Reach 52-Week High?

March 23, 2018 - By reb123z

The stock of Innovate Biopharmaceuticals, Inc. (NASDAQ:INNT) hit a new 52-week high and has $27.00 target or 8.00 % above today’s $25.00 share price. The 5 months bullish chart indicates low risk for the $642.29M company. The 1-year high was reported on Mar, 23 by Barchart.com. If the $27.00 price target is reached, the company will be worth $51.38 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 17.15% or $3.66 during the last trading session, reaching $25. About 339,313 shares traded or 42.80% up from the average. Innovate Biopharmaceuticals, Inc. (NASDAQ:INNT) has 0.00% since March 23, 2017 and is . It has underperformed by 16.70% the S&P500.

Innovate Biopharmaceuticals, Inc., a clinical stage biotechnology company, focuses on developing autoimmune and inflammation therapeutics. The company has market cap of $642.29 million. The Company’s late-stage clinical pipeline focuses on addressing unmet needs in diseases, such as celiac disease, inflammatory bowel disease , and nonalcoholic steatohepatitis (NASH). It currently has negative earnings. The company's lead drug candidate, larazotide acetate (INN-202), has successfully met its primary endpoint in a Phase 2b efficacy clinical trial for celiac disease.

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