Alzamend Neuro stock (NASDAQ:ALZN) jumped up 25% on Friday, seeing 153M in volume compared to a 50-day average of 5.7M. The stock may have found a bottom, but there are key resistance areas to break before a real move may be seen. The closing price on Friday was $2.88. Mondays pre-market opened at $2.70. Alzamend Neuro is preclinical stage biopharmaceutical company focused on developing novel products for the treatment of neurodegenerative diseases and psychiatric disorders.

What’s the catalyst?

With the company being in a preclinical trial stage, it does pose some risk. But higher rewards usually come with higher risk. ALZN have a number of potential drug candidates awaiting trials. You can read about these two drugs in our ALZN article that we wrote about last month.

Analyst ratings

Univest Securities analyst James Lang initiated coverage of Alzamend Neuro with a buy rating and $15 price target. He believes AL001 could “unlock a quick pathway” to revenue generation by using its patented technologies to treat a host of psychiatric disorders.


ALZN has resistance between $3.35 and $3.55. The price has failed to break this over the past few months. The incoming volume on Friday made the price once again test this level but failed to hold above $3.38. If volume holds up and the Alzamend Neuro stock price closes above $3.55, there is not much resistance until $4.20.

However, there has been an S-4 filling as ALZN sees large buyers entering for this move. This buying activity has taken the form of both direct and indirect ownership of shares and options by a few individuals with ownership stakes above 10%.


We think the stock can break above $4 with the recent volume and large ownership and see $7 in the near future. The market cap is $200M. There risk is related to the preclinical trial stage, so if you are looking to place your money, keep an eye on this news.

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