27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.
Celgene Corporation (NASDAQ: CELG) shares are up a modest 1.2 percent in Mondays session after the company’s United European Gastroenterology Week (UEGW) abstract revealed wide-spread activity for mongersen (GED-301) among Crohn’s patients.
Although the full data will not be available until Tuesday, Credit Suisse analyst Alethia Young is optimistic about what it will reveal.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
The abstract data seems to validate mongersen activity in Crohn’s patients starting at just 12 weeks, which is a relatively early point in the treatment program.
Young noted that one of the biggest criticisms of the NEJM Phase II data was that the patients' symptoms were on the mild end of the moderate scale. She pointed out that the Phase Ib patient population seems to have much more severe symptoms, with 46 percent of them having been on anti-TNFs prior to the study. In addition, the CDAI baseline for the patient population was 294 versus only 243 for the previous NEJM data.
In the new data, 37 percent of patients evaluable at week 12 demonstrated an endoscopic improvement of at least 25 percent in their SES-CD score.
“We are looking for data on the sub-groups and biomarkers in the full data on Tuesday, but from speaking to the company we think data will look fairly consistent,” Young added.
Credit Suisse remains optimistic about Celgene’s stock as well. The firm maintains an Outperform rating and $140 price target.
Full ratings data available on Benzinga Pro.
Do you have ideas for articles/interviews you'd like to see more of on Benzinga? Please email feedback@benzinga.com with your best article ideas. One person will be randomly selected to win a $20 Amazon gift card!27% profits every 20 days?
This is what Nic Chahine averages with his options buys. Not selling covered calls or spreads... BUYING options. Most traders don't even have a winning percentage of 27% buying options. He has an 83% win rate. Here's how he does it.