Long Position on SNTS @ $24.50 on 10/21/2013 (Momentum)

Santarus (SNTS) is a specialty biopharmaceutical company. It is a maker of drugs to treat gastrointestinal conditions.

The company offers UCERIS (budesonide) extended release tablets for the induction of remission in patients with active, mild to moderate ulcerative colitis; and ZEGERID (omeprazole/sodium bicarbonate) for the treatment of certain upper gastrointestinal disorders.

It also provides GLUMETZA (metformin hydrochloride extended release tablets) and CYCLOSET (bromocriptine mesylate) tablets, which are indicated as adjuncts to diet and exercise to improve glycemic control in adults with type 2 diabetes; and FENOGLIDE (fenofibrate) tablets, which are indicated as an adjunct to diet to reduce high cholesterol. Santarus' product development pipeline includes the investigational drug RUCONEST (recombinant human C1 esterase inhibitor) for the treatment of acute angioedema attacks in patients with hereditary angioedema.

It is also developing Rifamycin SV MMX, which is in Phase III clinical testing for the treatment of travelers' diarrhea. In addition, the company has completed a Phase I clinical program with SAN-300, an investigational monoclonal antibody. 

Shares have formed a bullish "double bottom." Higher share prices are expected for SNTS.

52-Week Trading Range: $8.47 - $28.10

Entry Point: $24.50

Stop Loss: $23.27

Target Price: $26.95

Updates

10/30/2013 3:00:55 PM

SNTS fell below ours top loss.

Position closed on 10/30/2013 at price of $23.20 with a -5.31% loss in 9 days.

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