How quickly things can go from “boring” to exciting. Today I picked up shares of CLDX off the watch list and it went up just as fast as RIGL did. And just like RIGL, I took a piece of the profits off the table and kept the rest for higher.
I also sold CDTX at the $8 price target. Over a $1 move per share in just a couple days!
I also bought ASMB this morning because an important conference they are going to be at released information that the company is going to be presenting some important data. That data will come out April 11th – 14th. The volume on this pricey stock is low, and the spreads are wide, so I used a smaller amount of shares so I could ride out the volatility.
So far, I am right all around! The stock had close to a $4 range on the day between the highs and the lows. So, when and if it does start going to the upside, I expect a big move.
It looks like Jeffries just upgraded ASMB to a price target of $75 after the close today, so things are cooking!
I’ll also taking off VKTX from the watch list for the time being. The company reported that they are delaying data to the second half of the year. This isn’t inherently “bad” news, but it is a delay and that typically causes a drop in the stock short term. And, that’s just what we got. So, this one will be added back in the future when they get closer to their data.
I’m also going to take CDTX off the watch list here today as well. It had a strong $1.50 move on the catalyst and we are getting close to the zone of where data could come out. For the record, I think data will come out the last two weeks of March and it will be positive – for those wanting to “gamble.”
SPHS I’m also taking off here until we get a closer look at the company when the earnings come out. At the earnings call they might give us a more specific date to work with and then it’ll hop back on the watch list.
So I’m shoring things up and changing some names around to get some fresh ideas!
Just a reminder, charts and targets are updated every Monday morning!
[Ed.note: Kyle Dennis runs BiotechBreakouts.com. He is an event-based trader, who prefers low-priced and small-cap biotech stocks.
New Catalyst Swing names (1 – 4 week holds) I am watching…
Assembly Biosciences (ASMB)
Catalyst Dates: Phase 3 data due out in the second quarter
Buy Zone: $55.00 to $57.00
Profit Zone: $60.00 or higher
Stop Zone: $52.00 or below
Catalyst Swing names (1 – 4 week holds) I am watching…
AVEO Pharmaceuticals (AVEO)
Catalyst Dates: Phase 3 data due out in the second quarter
Buy Zone: $2.80 to $3.00
Profit Zone: $3.50 or higher
Stop Zone: $2.60 or below
Celldex Therapeutics (CLDX)
Catalyst Dates: Phase 2b data due out in second quarter
Buy Zone: $2.40 to $2.55
Profit Zone: $2.80 or higher
Stop Zone: $2.20 or below
Pluristem (PSTI)
Catalyst Dates: Phase 2 data due out in the second quarter
Buy Zone: $1.35 to $1.45
Profit Zone: $1.75 or higher
Stop Zone: $1.20 or below
Kitov Pharma (KTOV)
Catalyst Dates: FDA Approval date of May 31
Buy Zone: $2.60 to $2.80
Profit Zone: $3.25 or higher
Stop Zone: $2.20 or below
TherapeuticsMD (TXMD)
Catalyst Dates: FDA approval date of May 29th
Buy Zone: $4.90 to $5.20
Profit Zone: $6.00 or higher
Stop Zone: $4.60 or below
Edge Therapeutics (EDGE)
Catalyst Dates: Phase 3 interim data due out in April
Buy Zone: $15.20 to $15.50
Profit Zone: $16.50 or higher
Stop Zone: $15.00 or below
Medicinova (MNOV)
Catalyst Dates: Phase 1b/2a abstract to be presented April 27th
Buy Zone: $10.50 to $11.00
Profit Zone: $12.00 or higher
Stop Zone: $10.15 or below
Selecta Biosciences (SELB)
Catalyst Dates: Phase 2 data in early April
Buy Zone: $8.50 to $9.50
Profit Zone: $11.50 or higher
Stop Zone: $8.00 or below
Seattle Genetics (SGEN)
Catalyst Dates: FDA approval date of May 1
Buy Zone: $53.00 to $56.00
Profit Zone: $60.00 or higher
Stop Zone: $51.50 or below
Dova Pharmaceuticals (DOVA)
Catalyst Dates: FDA approval date of May 21
Buy Zone: $30.00 to $32.00
Profit Zone: $36.00 or higher
Stop Zone: $29.50 or below
Rigel Pharmaceuticals (RIGL)
Catalyst Dates: FDA approval date of April 17th for immune thrombocytopenic purpura
Buy Zone: $3.50 to $3.90
Profit Zone: $4.50 or higher
Stop Zone: $3.40 or below
Clovis Oncology (CLVS)
Catalyst Dates: FDA approval date of April 6th for ovarian cancer
Buy Zone: $52.00 to $55.00
Profit Zone: $60.00 or higher
Stop Zone: $49.00 or below
Ultragenyx Pharmaceuticals (RARE)
Catalyst Dates: FDA approval date of April 17th for X-linked Hypophosphatemia
Buy Zone: $44.00 to $47.00
Profit Zone: $55.00 or higher
Stop Zone: $41.00 or below
Progenics (PGNX)
Catalyst Dates: FDA Approval date of April 30th
Buy Zone: $5.75 to $6.20
Profit Zone: $7.00 or higher
Stop Zone: $5.10 or below
CorMedix (CRMD)
Catalyst Dates: Phase 3 interim analysis due out in the second quarter. Likely a buy after their earnings call in March.
Buy Zone: $.30 to $.40
Profit Zone: $.60 or higher
Stop Zone: $.25 or below
Nabriva Therapeutics (NBRV)
Catalyst Dates: Phase 3 antibiotic data due out “spring 2018”
Buy Zone: $5.50 to $6.00
Profit Zone: $8.00 or higher
Stop Zone: $5.20 or below
