Long Position on PCYC @ $120.80 on 9/10/2013 (Momentum)

Pharmacyclics (PCYC) is a clinical-stage biopharmaceutical company.

It focuses on the development and commercialization of small-molecule drugs for the treatment of cancer and immune mediated diseases.

Its principal products candidates in clinical development include ibrutinib, which is under multiple Phase III studies in hematologic malignancies; a BTK inhibitor lead optimization program targeting anti-inflammatory and autoimmune indications; PCI-27483, an inhibitor of Factor VIIa that is in phase II clinical trial for the treatment of pancreatic cancer; and a HDAC inhibitor abexinostat, which is in Phase I and II clinical trials for the treatment of solid tumors and hematological malignancies. The company’s clinical development and product candidates are small-molecule enzyme inhibitors designed to target key biochemical pathways involved in human diseases with critical unmet needs.

It has a collaboration and license agreement with Janssen Biotech, Inc. to develop and commercialize ibrutinib and other structurally related compounds; collaboration and license agreement with Les Laboratoires Servier to develop and commercialize abexinostat; and license agreement with Novo Nordisk A/S to research and develop PCI-27483. 

Shares have formed a bullish "cup & handle" and higher prices are expected for this stock.

52-Week Trading Range:  $44.91 - 121.49

Entry Point:  $120.80

Stop Loss:  $114.76

Target Price:  $132.88

Updates

9/27/2013 9:44:48 AM

PCYC reached our target. Position was closed at $133.49. If you elect to stay in the stock, raise your stop loss to $131.00 to protect your gains.

Position closed on 9/27/2013 at price of $133.49 with a 10.50% gain in 17 days.

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