I wasn't referring to the phase 3 results, but the completion of enrollment of the phase 3 trial. Shortly after that is announced, many subscription based biotech trading sites will recommed their subscribers to start buying for the runup to the phase 3 results.
I do think DB will initiate coverage not long after enrollment has been completed.
phase III trial should be announced very soon and then the countdown will begin. Deutsche Bank, the lead underwriter of the recent secondary still hasn't initiated coverage and my guess is they will very soon.
I expect it to go up the day it's priced and close well above it's offering price, just like XNPT (another biotech stock) did earlier this week. Traders will be buying this stock like crazy the day a secondary is priced, imo.
on 8/7. Deutsche Bank, Cowen, Cannacord and Wedbush will also reiterate strong buys and prices targets from 17 to the low 20's.
Last chance to buy under 9 might be today.
according to this Nasdaq link. Scroll towards the bottom until you see lockup expiration. This stock is a great buy under 9.95, imo. Looking for 12+ in early august, after coverage.
This will lead to a big payday for MITK, imo.
SAN DIEGO, April 12, 2012 (GLOBE NEWSWIRE) -- Mitek Systems (Nasdaq:MITK - News) (www.miteksystems.com), a leading mobile imaging software solutions provider, today filed a lawsuit against USAA in the United States District Court for the District of Delaware. Mitek alleges that USAA infringes five Mitek patents relating to image capture on mobile devices, that USAA breached the parties' license agreement by using Mitek products beyond the scope of the agreed-upon license terms, and that USAA breached the parties' license agreement by disclosing confidential pricing and other confidential information for a Mitek legacy product installation in a lawsuit filed in Texas. Mitek's patents are related to its market-leading Mobile Deposit(R) product -- a product Mitek pioneered in 2008. Mitek seeks monetary damages, injunctive relief, and a finding that USAA willfully infringed Mitek's patents.
been turning up the last several days, including today. That is a positive divergence and that's why I bought at 2.52 today.
The second this shorting stops and it will, the stock will rip upwards.