.65 to .75 will be consolidation range until the RSI settles down.
Like many small biotechs, this will level-out and head higher to around the $1-$2 range over the next 6/months.
Easy money here. No brainer.
Rexahn shares have languished in the $0.30 - $0.70 range over the last two years. With the pieces now in place, Pantginis thinks there's a ground-floor opportunity with the stock.
Roth Capital started coverage on Rexahn Pharmaceuticals (AMEX: RNN) with a Buy rating and $3 price target.
Analyst Joseph Pantginis, Ph.D., noted that Rexahn was a re-focused, re-tooled company with a clear focus on oncology drug development. He feels the company was in a state of transition during 2011 and 2012, with 2013 representing a year of putting all the pieces in place, making 2014 an important execution year for the company.
Key investment drivers Pantginis highlights are:
Transition to oncology focus is complete and new company direction is set: New management and three clinical-stage onlology assets put the company in a good position. Importantly, as the products move forward into Phase II, management has indicated that it will move forward with well designed randomized studies in order to get meaningful answers, Pantginis noted.
A rapidly-advancing pipeline: Pantginis notes Rexahn's current pipeline: A Phase IIa trial of Archexin in metaststic renal cell carcinoma (mRCC) should begin shortly. (Recall that the company has promising results from a Phase IIa exploratory clinical trial in pancreatic cancer in hand.) Additionally, a Phase Ib clinical trial of DNA synthesis inhibitor RX-3117 was just initiated. (Recall that a promising Phase I trial in solid tumor data is in hand and that the IND has been cleared by the FDA). Lastly, a Phase I trial of Supinoxin (RX-5902) in solid tumors is ongoing.
Partnering interest around the assets and platforms could drive the long-term validation of the company. While management is weighing partnerships for each of its products, Pantginis thinks RX-3117 is the lead prospect. He thinks management will aim for a partnership in mid-2014 or so. In addition, the analyst thinks Rexahn's technologiesprovide for long-term partnership opportunities given that they could be used for multiple product candidates and companies.
Only problem I see is the mass lawsuit compiled by 22 attorney generals.
22 state AG's can surely have some pull with the FDA....
That's the main risk here, being yanked from market or under the microscope to find any slight side-effect. Even if 99.9% of the population remains problem-free.
Look what the 0.02% problem did to Affymax/Takeda with Omontys.
I'm long here but there are always potential issues that should be know.
Obviously I'm not saying this with 100% certainty but I'm guessing it's a heavy hitter index fund, such as SPDR or Baker Bros biotechnology fund.
7 million shares of nearly a 25 million dollar stake is no joke.
My guess is SPDR fund, which is surely positive news.
I'm guessing its the SPDR index fund. They've been doing much buying of sub-$5 biotechs lately.
They took a position in INO, then in fact, traded it and sold partial a few days later.
SPDR reducing stakes in large, billion dollar caps biotechs and have been acquiring stakes in a dozen or two companies trading around $2-$10.
I'm guessing long-term rotation, at least for 2014.
The head-fake to $3.00 not looking pretty. That's a 25% loss in no time. The people that margined up assuming the train was leaving the station are easily in for a 25-50% loss.
I sold at $2.22 for a near 10.5% gain and people laughed at me. I missed the rally to $3.00 but what are you going to do. I figured a near 11% gain in a couple weeks was solid. I sold 25k shares, doubled up on MACK and now that's up nearly 25% total (from previous and new Inovio sale shares).
Damn near 30% gain in five weeks...Can't question my motives there.
As of today I left a nickle on the table (with INO at $2.27) but my MACK is up 18% from my INO shares.
Not too shabby after all.
I agree that MACK is a much higher reward here relative to PBYI. The money has already been made in PBYI. The drug has proven safe and effective, however it's still not approved. It's surely priced for approval.
Puma has such a small float, which is when you have these numbers:
% of Shares Held by All Insider and 5% Owners: 19%
% of Shares Held by Institutional & Mutual Fund Owners: 74%
% of Float Held by Institutional & Mutual Fund Owners: 91%
People will bid each other up crazy with positive news.
MACK on the otherhand should be trading around $800m-$1.2 billion market cap if you want to compare Apples to Apples. We're definitely undervalued here without news, without trials. Any positive news will send this up 60-100% in one day. Likewise, any negative news will reverse us 40-50%, either way it's a gamble.
Insiders, smart money, fund managers clearly are predicting which way she's headed (increased PPS). The question is, when will it cool down for consolidation? I'm guessing she takes a break around $6.50-$7.50 then it stalls for consolidation, then heads to $10-$11 before any trial results.
Either way, MACK is a win-win here, even with a failed trial (let's hope not), there's plenty of upside ahead. Any failed trial down the road should put us back to around $5-$6 anyway (considered we'll be much higher in the coming months), so your downside here is quite limited.
Risk is clearly worth the reward.
This is also why Dendreon is on the slow trickle to bankruptcy unless someone will acquire them for next-to-nothing for their made-man created biotechnology platform.
One of the best acquisitions J&J ever made in oncology....
The latest results should significantly expand sales of Zytiga as there are far more men with advanced prostate cancer who have not been treated with chemotherapy.
"An approval in the pre-chemo population should more than double the market opportunity for Zytiga," said Sanford Bernstein analyst Derrick Sung in a research note.
"We would expect physicians to increase their use of Zytiga off-label in this population once the data is released even before official FDA approval is achieved," said Sung, who estimates Zytiga annual sales reaching $1.3 billion as early as 2013.
May 2009 PR:
LOS ANGELES, May 21 (Reuters) - Drugmaker Johnson & Johnson (JNJ.N) on Thursday said it has agreed to acquire cancer drug developer Cougar Biotechnology Inc CGRB.O for about $970 million in cash in order to strengthen its oncology business.
J&J said it will tender to purchase all outstanding shares of Cougar at $43 per share, which is about a 16 percent premium to their Nasdaq close of $36.98. The shares were trading at $42 after hours.
Cougar is currently conducting two pivotal-stage trials for abiraterone acetate, an experimental treatment for prostate cancer.
Honestly it's a $100 stock due to one person, Alan Auerbach, their CEO.
For those of you who don't know Alan, his previous company he founded was Cougar Biotechnology.
He took Cougar from nothing to successful phase 3 trial of Abiraterone (aka Zytiga). Then Johnson & Johnson bought him our for slightly over $1 billion. Fast forward a few years and now J&J is making billions from the #1 FDA approved prostate drug on the planet.
This is also the same reason why Dendreon failed.
Also the same reason for Medivation's (MDVN) market cap as well (because it's the only viable competitor, yet much smaller than Abiraterone/Zytiga.
Alan is repeating his success with Puma Biotechnology. Hence a Puma is similar to a Cougar, and Alan believes he once again has the recipe for success.
Question being, will J&J come knocking again to protect their franchise and pay the man because of his proven success record? Time will tell, but investors and fund managers seem to believe so.
This my friend is the logic behind Puma Biotech's market cap.
Once again, JPMorgan has made news regarding insider-trading shenanigans. The Financial Industry Regulatory Authority has banned a former JPMorgan broker from the brokerage industry for passing on insider information to another broker in a $9 million trading plot. The former broker, David Gutman, may face disciplinary action, as well.
Read that everyone? Banned and disciplined. What's happens to the money he's made you might ask? He gets to keep it.
Who said crime doesn't pay?
Wait...you mean insider trading? This is wall street brother...that's totally legal. LOL
Granted AF cannot short 1/million shares then throw out an article, but rest assured his wife, son, great aunt, cousin can.
Made 10% and now I'm up nearly 30% in MACK.
Worked out well. Thanks for asking.
Same as the last orchestrated rally, also based on no news.
Prospects here look good (I personally like INO), but you can make way more trading it than you can being long (depends which way she turns long-term (huge rally higher or failure and back to 40 cents)).
This is precisely why traders are always happy, selling their shares into the rally @ 2.70, $2.80, $2.90. then buying again at $2.00, $2.10 and $2.20.
This is how traders make their millions.