|Bid||21.40 x 1000|
|Ask||22.50 x 1100|
|Day's Range||19.85 - 21.90|
|52 Week Range||0.70 - 25.48|
|Beta (5Y Monthly)||0.66|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
After a tumultuous start to the year, things have finally started to turn around in my day trading accounts. While it’s a low bar, the third week of January has been my strongest stretch so far this year with close to $70,000 in gross profit. But it wasn’t all smooth sailing, the week started with a few roller coaster trades in Aclaris Therapeutics, Inc. (NASDAQ: ACRS). I first traded ACRS as it was climbing in Monday's premarket session for about $10,000, but then took a roughly -$15,000 loss as it dropped on the open. I was able to tag back up with ACRS and a few other runners to dig my way out from that loss, but it was a tough note to start the week out on. I didn’t take any trades on Tuesday, but that action in ACRS was still fresh in my mind when I came to the market on Wednesday. I made a concerted effort to avoid any risky setups and just aim for hitting my daily $10,000 benchmark. That caution paid off thanks to some premarket trades in Obalon Therapeutics, Inc. (NASDAQ: OBLN), one of the leading gap stocks that morning. While I did briefly dip into ACRS, I ended Wednesday early after seeing most of the momentum stocks I was tracking at the time completely collapse. Thursday was when the market really started supporting a bit more momentum, particularly in Vinco Ventures, Inc. (NASDAQ: BBIG), which I traded in a gap and go setup through its breakout from the $7.00 level to above $9.00. Those trades in BBIG represent almost half of my total profits for the week, and they also happened on a day I was able to avoid any big draw downs. I wrapped up Friday with a handful of okay trades in OLBN and CLPS Incorporation (NASDAQ: CLPS) and, while not a stellar close to the week, I’m happy that it was a relatively calm one for my trading accounts and that I was able to string together a few green days to make up for the massive losses I started out the year with. Despite it being a solid week that ended up approaching my weekly goal, I’m still in the red on the month by more than -$90,000. While it’s not impossible that I find enough momentum in the market to make up that deficit, I’m going to try and keep my P&L concerns on the back burner and instead focus on just making my daily goal and keeping this green streak alive. See more from BenzingaClick here for options trades from BenzingaA Rough Start Day Trading In 2021© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Small-cap biotech stocks are known for the inherent risk they present to investors, as it is impossible to predict whether the company’s proposed solutions – be it prophylactic, therapeutic, or diagnostic - will make the grade in clinical testing. However, get your biotech choice right, and the returns could be phenomenal. Which brings us to Aclaris Therapeutics (ACRS). The stock closed out Tuesday’s session with an extra 220% of share gains attached to its ticker, as the market cheered a successful clinical trial’s outcome. Specifically, the company released preliminary results from the phase 2a clinical study of ATI-450 in patients with moderate to severe rheumatoid arthritis (RA). Over a 12-week period, the investigational oral MK2 inhibitor demonstrated a noticeable and continuous reduction in disease-activity scores. Overall, the drug was well tolerated, with no significant adverse events noted during the trial. Aclaris plans to publish a full analysis of the clinical trial results in a peer-reviewed scientific journal. For Leerink analyst Thomas J. Smith, the positive results exceeded his expectations. “The Phase 2a trial showed that not only was ATI-450 generally well tolerated, but that treatment rapidly and durably improved multiple endpoints and biomarkers through 12 weeks relative to placebo," the analyst said. "We are increasingly encouraged by the profile of this potential first-in-class/best-in-class, oral disease modifying therapy in RA, as well as across a broader range of inflammatory diseases.” The analyst gives ATI-450 a 40% probability of success, and estimates that for the treatment of RA, ATI-450 can attain $1.3 billion in “unadjusted peak worldwide revenue,” following a projected 2026 launch. With other candidates in the company’s pipeline acting as further catalysts, Smith believes a “sustained news flow is likely to keep investors engaged, as ACRS solidifies its Phase 2b study plans for ATI-450 in RA.” As a result, Smith boosted his price target significantly, which shifts from $4.5 to $21. Following Tuesday’s unseemly gains, the new target suggests room for a modest 9% upside. To this end, the analyst’s rating stays an Outperform (i.e. Buy.) (To watch Smith’s track record, click here) Only one other analyst has recently posted an Aclaris review, also suggesting investors to Buy. Therefore, the stock has a Moderate Buy consensus rating. (See ACRS stock analysis on TipRanks) To find good ideas for healthcare stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
The biotech sector was in focus last week with regulatory and pipeline updates from quite a few companies like Alexion (ALXN), Aclaris (ACRS) and Biohaven (BHVN).