For Immediate Release
Chicago, IL – September 7 – Zacks highlights commentary from People and Picks Trader “BioMO”.
For more Voice of the People, visit http://at.zacks.com/?id=5851
Featured Post
New Pick: Cadence Pharma
Candence Pharmaceuticals (CADX) has an early November PDUFA date and expected FDA decision for OFIRMEV (intravenous or IV acetaminophen).
CADX is developing OFIRMEV (acetaminophen) injection in the U.S. market for the treatment of acute pain.
CADX has in-licensed the exclusive U.S. and Canadian rights to OFIRMEV™, an intravenous formulation of acetaminophen that is currently marketed in Europe for the treatment of acute pain and fever by Bristol-Myers Squibb Company, or BMS, under the brand name Perfalgan®. According to IMS data, since its introduction beginning in 2002, over 250 million doses of intravenous acetaminophen have been sold in Europe and it has become the market share leader among injectable analgesics.
Because of delays we can look back at two recent run-ups of CADX.
During its run-up in 2009 CADX hit a high of $11.76 (10/12/09) During its Feb 2010 run-up CADX hit a high of $10.91 (1/7/10)
The stock price as this is written is 7.99.
Our target price, assuming it is dilution-free, is $10.50. This would be a 30% gain.
We are targeting this price prior to the FDA approval date in November 13
Another way to play this stock is via options. $10 November Calls which expire AFTER the FDA date of 11/4/10, allows for speculation on share price if approved. Currently these calls are trading for around $.90, expectations is that the calls should be “in the money” before 11/4/10.
CADX as to the ‘game’ is being added as an stock pick. Disclosure: I am an alter-ego of MightyMo. ALIGN=”left”> To learn more about People And Picks, visit http://at.zacks.com/?id=5957
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