RagingBull Exclusive!

Jeff Bishop and Jason Bond’s #1 Investment Opportunity Now!

Money is drastically shifting into the angel investing market.

Claim your seat in our Boardroom and learn how it can outpace any other investment opportunity!

Follow up: Eiger Biopharmaceuticals (EIGR)

Kyle DennisKyle Dennis ·

The back story: Back in August, I told you that Eiger Biopharmaceuticals (EIGR) looked like a great opportunity. It was down from its 52-week high of $18 to a low of $8, but I thought that two upcoming catalysts could spark a nice runup for the stock. I took a 1,000-share position Aug. 17 at $7.96 and sold at $9.33 on Sept. 5, but it gained a bunch more since, closing Wednesday at $13.65.

Take a look at Kyle’s Aug. 16 piece on Eiger here.

The set-up: EIGR plans to release interim data on a Phase 2 study for Pegylated Interferon Lambda in hepatitis delta virus at the American Association for the Study of Liver Disease meeting Oct. 20-24. That’s in just a few trading days. At the J.P. Morgan Healthcare Conference Jan. 8-11, EIGR will release Phase 2 data on Ubenimex, a pulmonary arterial hypertension drug. Poor data on either of those events could lead to another good trading opportunity. A big move down would create a big gap up with little to no resistance for the next catalyst run.

How I’m playing it: I’m not. It’s run way past my target, which was about $10 a share. It’s up about 70 percent, so now would be a solid time to book those profits if you still have a position, when it’s up quite a bit and the market’s really hot.

Selfishly, however, I’m hoping for negative data in the next week or so, because I’d like to play the second catalyst run, with a nice chart setup when it’s undervalued.

#-#-#

Kyle Dennis runs Kyle Dennis’ Biotech Breakouts (biotechbreakouts.com). He is an event-based trader, who prefers low-priced and small-cap biotech stocks.  He has no shares, options or open orders in EIGR, having last owned the stock in early September, when he traded it as described in this commentary.

Trending Now

Bull or Bear Market….It Doesn’t Matter

Kyle Dennis’ new, 5 min strategy is poised to double account sizes weekly! “I got out of GE trade at 379% $0.16-$0.77, thanks Kyle!” Said client Lance P. Check out the free training that started it all. (View Free Training)

SuperNova Service Leading Clients to 5-Figure Profits Consistently

“BOOM!!! Booked another $13,985 in profits on my long position $VMNGF. Great report came out premarket. Thanks Jeff at SuperNova for teaching me to make $$$ in the market.” Said Todd V. Jeff Williams is helping transform small accounts daily. Don’t miss his free walkthrough. (Watch Now)

Jeff Bishop, RagingBull.com Co-Founder, “Trading My Strategy Takes A Few Minutes a Day!” 

“Jeff, I have to say I was a little gun shy, but I bought the lifetime service (to Bullseye Trades) Friday night. First trade with your service…in LULU, 205 Calls at $4.70. (I) was going to be away from all internet connections for the next 3 days. It hit my sell price at $6.25 ;)” said James W.    (Read More)

Be a Better Stock Trader, Starting Today

Get the expert insights, tips and strategies you need to optimize your trading skills and profiles
START NOW