What happened Shares of Veru (NASDAQ: VERU) jumped 38.4% on Tuesday following positive analyst commentary. So what 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. Veru's stock price rose sharply on Tuesday. Image source: Getty Images. Chen is optimistic that these positive results will allow Veru to eventually obtain regulatory authorization for VERU-111 as a potentially life-saving treatment for hospitalized COVID-19 patients. Now what After its sharp gains on Tuesday, Veru's stock price is now trading roughly 13% above Chen's target price. Still, if the biotech can successfully develop VERU-111, there would likely be strong demand for the oral drug, at least until the coronavirus pandemic subsides. More gains could lie ahead for Veru's shareholders if VERU-111 proves both safe and effective in the phase 3 study the company expects to begin in April. 10 stocks we like better than Veru, IncWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the ten best stocks for investors to buy right now... and Veru, Inc wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of November 20, 2020 Joe Tenebruso has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source