ARNA - Arena continues its upward momentum, temporarily breaking through $6 on Friday. How long can it continiue this trend? Will it keep advancing as it approaches is FDA Panel? September 16th is a long ways off… I have no position in ARNA, but remember this stock was $2.89 just a month ago.
JAZZ – Jazz is basically the only biotech with a catalyst in August (other than ISA.TO). On Friday it showed that it can break above $8.75 when it popped to $8.90. The chart shows a great wedge forming and we under 4 weeks until the Advisory Panel. My position in JAZZ is full (shares and options) and I stand by my run-up target of $11- $12
ISA.TO – Remember ISA.TO? Its PDUFA Priority date is only about a week away. Stay tuned for tomorrow’s post- its all about this risky play.
GENZ – On Friday Buyout rumors were swirling, and shares of GENZ popped about 20%. Keep an eye out for an official statement and buyout price to be announced. A buyout is good news for the biotech industry in general and may ignite the shares prices of the entire sector.
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Yes, GENZ could be a huge catalyst for the entire sector. ARNA seems overvalued but hard to go against the momentum. Might be a good short approaching the panel. Went long JAZZ this past week as well.
Any opinions on BIOD or AVNR ? I believe their dates are late October ?
I have a position in BIOD already and I hold some options for AVNR… I believe they will both run up, and I plan to shift some JAZZ money into them within a few weeks.
ARNA: This stock has been recommended in the past by at least one financial newsletter, and I believe some of the run-up occurring now can be attributed to that as well. I first became interested in February 2009, and the stock ran up to over $7 from this newsletter’s recommendation. Looking at the charts, I believe we can at least expect this stock to get above $7 again before it starts to correct. I took a position at $4 and am looking to grab some more at the lower end of the trading range. As both Qnexa and Contrave have serious side effects which have to be addressed, I believe this will make Arena’s Lorcaserin a likely candidate for approval. I will probably sell what I have now before the panel review, and keep any I buy between now and then until my chart indicators signal a sell.
Thank you for comments!
Good articel on ITMN, plus a lot of insider buys in June.
http://www.gekkowire.com/?p=4330