Why ECYT went spasmodic today: "Wall Street Cheers Endocyte’s New Direction" Back in June, Endocyte, Inc. (NASDAQ:ECYT) said it would cull nearly half of its employees and scale back its drug programs as it refocuses. Obviously, investors were concerned about the company’s prospects, asking: Is the end in sight for the cancer drug maker? Today, Endocyte provided investors with a wonderful answer. The company acquired worldwide licensing rights to a late-stage prostate cancer drug called PSMA-617 from chemical company ABX GmbH. Endocyte plans to begin Phase 3 clinical trials on the drug next year, and hopes to get results as soon as 2020. In reaction to the news, Endocyte shares skyrocketed nearly 160% to $3.65. Cowen analyst Boris Peaker commented, “The transformative acquisition of PSMA-617 not only transforms the company’s focus but also adds a number of milestones. In our view the most near-term milestone is the regulatory feedback on Lutathera. An approval would significantly derisk other Lu-177 based radiotherapeutics. However, even if the FDA issues a CRL for Lutathera, as long as the issues are not related to the Lu-177 payload, this may still be a positive catalyst for Endocyte. Looking beyond Lutathera, Endocyte plans to commence a Phase 3 study of PSMA-617 in 1H18. Additionally, there is an ongoing study if PSMA-617 in Australia which is expanding enrollment from 30 to 50 patients. We anticipate data from this trial at ASCO 2018. Endocyte also noted that an additional investigator sponsored study may be commenced, although the details and timing of this is limited.” Yet, Peaker remains sidelined on Endocyte shares until “further due diligence” is obtained. The analyst reiterates a Market Perform rating on the stock without suggesting a price target. (To watch Peaker’s track record, click here) Wall Street is not convinced just yet on this biotech player, as TipRanks analytics demonstrate ECYT as a Hold. Based on 4 analysts polled by in the last 12 months, three rate a Hold rating on Endocyte stock while one maintains a Buy. With a return potential of 66%, the stock’s consensus target price stands at $4.67.
Definitely have 2 on my watch for tomorrow so far & think ECYT might need to breathe but maybe not BUT if it does then looks like my other "outa nowhere" play >> IZEA might be fun tomorrow - looks like there is a short restriction in place & know HMNY did real well when shorts were restricted.
so i had to google restricted shorts. answer i got was to stop shortselling the day after a stock had already dropped 10%, right? But IZEA dropped only 4% and change. what am i missing? and how are you seeing when they do a short restriction?
Not completely sure without looking back but don't think HMNY was down when restrictions went into place & think restriction means they can only short on upticks which i think makes it a bit riskier with low floats etc. And if not correct then maybe Neil or someone else that knows more about it could answer here b/c am new to shorting & still learning. Adding - now i am really stepping away from computer & will finish stock work later.
so i am back on the computer now where my charts are better. looking at MOMO on the 6 month, it doesn't look like a good time to hop on to me. Now i admitted i suck at charting on my journal. But isn't that a head and shoulders? Still well below MA. only trigger i would see at this point would be oversold RSI. Not trying to make waves. Just wanting to know if i am looking at it right, missing stuff, or maybe helping divert a loss.
you two have converted me on finviz and the charts. . TGTX getting ready for a potential breakout. hmm don't know how to post the updating pic though and not the link. https://www.finviz.com/chart.ashx?t=TGTX&ty=c&ta=1&p=d&s=l
fwtiw - stockcharts (chart school) is a real good place to learn about charting - spent a lot of time there & now i'm spending a lot of time @ Finviz trying to perfect my scans which i actually think is harder than charting. I personally tend to keep things pretty simple and only use about a handful of candlestick patterns with 2 maybe 3 indicators so can't speak about the head and shoulders but MOMO candle on weekly is indicating a reversal but also looks like it needs more vol to make a significant move up without some sort of catalyst so agree with you & have on watch for now. OK enough stalling & is time to head back over to Finviz to try to figure out what's wrong with of my scan settings which is almost there but not quite - have some number in there somewhere that needs to be corrected or removed and can't figure it out & is driving me crazy. PS just thought about this >> Steve Nison is also another good resource for candlestick patterns - free PDF & Youtube videos.
@ Finviz now so when you pull up chart there - right click on chart with mouse & select "copy image address" & then click icon next to smiley face here & right click again to paste/insert link from Finviz
check out puts on WIX - it always takes a big dive after earnings and then comes back stronger after 2-3 wks.
Monday's Headline: "Baby Bios Gone Wild" ECYT: $3.63 + 157% ATEC: $3.25 + 44% RIGL: $3.37 + 33% CATB: $2.64 + 24% ACRX: $5.50 + 20%
@Neil Allen based on reversal candle today, might continue heading up but don't think by much unless vol comes imo.
Watching VERI - ROKU - ECYT (up or down lol) - PETZ - am into plays related to pets & knew it was coming but missed this IPO - could be right up there with PETS within next couple days the way it's been moving!
Possible @Kaban but i also see a head and shoulders. Thats a play that may take a almost month to complete still. I would watxh it and wait for the breakout (could go either way as i see it) and hop on the trend.
agreed - except for FB which has a reasonable PE and continuies to innovate at a rapid pace - they hardly ever disappoint on earnings. NFLX seems most vulnerable for a correction chart-wise imo.
GEYLF: 3.18 +7% - owns Volvo, London Taxi & Lotus - makes electric veh. in China + conversions. From $1.30 - $3.18 in 5 months:
on ECYT - big news or hail Mary? https://www.ibj.com/articles/65645-...g-millions-for-rights-to-prostate-cancer-drug
GEELY AUTOMOBILE HLD (GELYF) Currently, bullish cross in MACD and Stochastic oscillator and RSI stands at 69.125 level with positive bias. On watch for clear above year high 3.20. http://www.allotcbb.com/quote.php?symbol=gelyf
thx for confirming technicals; also watching BLRX: $1.17 - another baby bio: upgraded to buy today by Zacks. Entered golden cross at end of Aug.? BioLine RX Ltd is an Israel-based company engaged in the development of therapeutics - under development consist of BL-1020 that is in Phase II/III clinical trials to improve cognitive function in schizophrenia patients. TipRanks: BLRX -1.170.02 (1.74%) - Analyst Consensus - Strong Buy - 3 Buy ratings Analyst Price Target on BLRX: $3.33 ▲ (184.62% Upside) High estimate of $4.00 and a low estimate of $3.00.
Hola! Very late start today - breakfast with a friend lasted much longer than i planned. Sold VERI but not by choice - stopped out & glad i raised it yesterday. PETZ order filled but missed selling @ high & watching it now. EYTC another CRAZY move up & looks i missed a nice short around open. ROKU has pulled back so watching for entry.
