DSCO was the best performer today – as it has been for the last three days. It closed at $2.10 and appears to have convincingly broken through the 50 day MA. I reduced my position by 50% yesterday – my remaining position is ~13% of the portfolio.
SPPI flirted with the $16 level but ended up retreating to $15.88, up 5 cents on yesterday. CRIS closed at $4.55 and ASTX continued to move up.
I have been thinking about opening a position in AMRN. The company has a PDUFA date in late July for its compound, AMR 101, for the the treatment of patients with very high triglycerides.
AMRN’s price peaked at ~$20 in May last year. This was following the announcement of very strong results from its ANCHOR trial. Since then the stock has dropped steadily reaching a low of ~$6 in December last year. Following a brief rally into the New Year, the price again dropped on an announcement last week of the issuance of $150M in senior notes.
The price has recovered since then and now looks like it may have put in a double bottom. It is breaking through the downward trend line and the 50 day MA. I will consider adding on a pullback tomorrow.