Kyle Dennis of BiotechBreakouts.com likes Cidara Therapeutics (CDTX) as a catalyst-driven trade, given a Phase II drug trial coming during the fourth quarter that he believes could push the stock close to $10 per share over the next month. Dennis noted that he likes antibiotics companies because they have a higher success rate in clinical trials. While he doesn’t own Cidara currently, but he plans to start averaging in on dips into the low $6 range — with a stop-loss set at $5.50 — expecting that he will hold the stock and see it approach or reach his target price by the time he plans to sell at the end of September to mid-October.

Kyle Dennis is an events-based trader who runs Kyle Dennis’ Biotech Breakouts (biotechbreakouts.com). He had no position in CDTX when he recorded this interview on Friday, Sept. 1, but was planning to buy in on dips, as he discussed. The Raging Bull podcast features experts from the site talking with Raging Bull editor Chuck Jaffe on his show, “Money Life with Chuck Jaffe.” You can learn more about Chuck’s daily hour of market and personal-finance chat at MoneyLifeShow.com; you can subscribe to the Raging Bull podcast via iTunes and other podcast providers.

Author: RagingBull

Learn More

Leave your comment

Related Articles: