EPIX

Ramsburg · July 06, 2006, 03:12:01 AM

Profile: EPIX Pharmaceuticals, Inc. engages in the discovery and development of pharmaceuticals for imaging that are designed to transform the diagnosis, treatment, and monitoring of diseases. It uses its proprietary Target Visualization Technology to create imaging agents targeted at the molecular level, which enable physicians to use magnetic resonance imaging (MRI) to obtain detailed information about specific disease processes.
Website: http://www.epixmed.com

Trading Idea:
EPIX is a very speculative stock, with a long history of multi-bag rides (when looking to the long term charts). We were already following EPIX since a few weeks ago, looking for a solid reversal signal or a breakout; we believe we got it now.

Yesterday EPIX broke the neckline of an Inverted Head & Shoulders pattern, creating a strong acceleration candle. The neckline is now at $4.20, and the projection of this pattern is above $6.00, so we'll trade this Play on a pure technical basis, taking into consideration the strength of this technical outlook. A throwback to $4.20 to retest the neckline level its acceptable, but we are going to buy EPIX today.

Trading Plan:
Buy EPIX today at or near the open, setting a stop @ $4.05

Regards,

la-onda · July 06, 2006, 03:56:17 AM

fyi:
short update

EPIX: Short Interest UP 0.2% to 2.1M in Jun 2006
Monday , June 26, 2006 16:17 ET

According to new short interest data from NASDAQ, short interest for EPIX Pharmaceuticals, Inc. (NasdaqNM: EPIX) INCREASED 0.2% to 2,132,501 shares for the month ended mid-June, 2006.

SYMBOL MAY JUNE CHANGE %CHANGE DAYS/COVER
-------- ------------- ------------- ------------- ------------ ----------
EPIX 2,127,987 2,132,501 +4,514 +0.21% 9

Based on EPIX's 20-day average daily share volume of 252,601, it would require approximately 9 day(s) of buying to cover this short interest.

bmarc4211 · July 06, 2006, 04:42:52 AM

Please help the newby? Is that an excessive amount of short interest? 9 days of buying to cover. What is the normal amount of short interest for a bullish stock (if there is a norm)? Ramsburgh are you expecting a pullback at or near the open? Is $4.20 our target purchase price?

bmarc4211 · July 06, 2006, 11:00:12 AM

It seems to have run right into the descending 200 SMA and stalled. Isn't a descending 200 SMA a bearish signal?

Ramsburg · July 10, 2006, 02:31:01 AM

Update:
EPIX just had a retest on the breakout level last Friday, creating a nice bullish candle and suggesting continuation this week. The short term resistance for this trade is located @ $4.85 followed by the ema-200 near $5.05, we expect some action this week.

Trading Plan:
Hold EPIX with a stop @ $4.05

Regards,

Ramsburg · July 12, 2006, 01:53:35 AM

Update:
EPIX is still under a consolidation range, that now started to look like a triangulation zone (bullish). The first barrier is located at $4.83, followed by the ema-200; a breakout of the short term range may lead EPIX to a major short covering rally, so let's just wait with our stop in place.

Trading Plan:
Hold EPIX with a stop @ $4.05

Regards,

dwest718 · July 12, 2006, 02:36:55 AM

I really hope this thing can wait one more week

... I will actually have assets in my account at my disposal... the chart really is looking great.

Sorry for posting fluff

but I just wanted EPIX to know it needed to wait a week to break out

Ramsburg · July 12, 2006, 02:48:37 AM

Quote from: dwest718 on July 12, 2006, 02:36:55 AM
I really hope this thing can wait one more week ... I will actually have assets in my account at my disposal... the chart really is looking great.

Sorry for posting fluff but I just wanted EPIX to know it needed to wait a week to break out

no problem with me dwest

... EPIX is consolitating right now lets see how many days it takes to breakout (or breakdown... hope not and dont think so

)

dwest718 · July 12, 2006, 04:25:25 PM

And there it goes... someone get me a bottle of water please

I'll leave the chart of happiness to Ramsburg.

Ramsburg · July 13, 2006, 02:44:13 AM

Quote from: dwest718 on July 12, 2006, 04:25:25 PM
And there it goes... someone get me a bottle of water please I'll leave the chart of happiness to Ramsburg.

It was a great session for EPIX... but we are not done yet... lets wait

Ramsburg · July 13, 2006, 02:46:11 AM

Update:
I was just thinking... the NDX was down 2% today and EPIX up almost 6%... imagine what is like to be a short right now on EPIX, and run to buy/cover this stock with a big plunge on the markets and everything around falling big time... Anyway, we are not short, we are long

and yesterday was a great show of relative strength against the market, making this Inverted H&S look even more solid and the potential short covering rally a serious possibility.

The little triangulation pattern seems to have worked well, and EPIX even breakout the $4.83 first barrier, being now almost touching on the ema-200. Our target for this trade remains @ $6.13, but we still face the risk of a new throwback to the breakout zone (around $4.25), so we'll just stay with the same plan for now.

Trading Plan:
Hold EPIX with a stop @ $4.05

Regards,

realcoolhead · July 13, 2006, 11:12:21 AM

How do you think of the news? Positive? Negative?

Ramsburg · July 14, 2006, 03:09:01 AM

Quote from: realcoolhead on July 13, 2006, 11:12:21 AM
How do you think of the news? Positive? Negative?

Update:
News: Epix says Schering drops option on imaging

I don't believe this is a real big issue for EPIX, neither today's sink was completely caused by this event, the market opened with an extreme pessimistic bias, and many investors started to sell whatever they were holding (including EPIX), the session was ugly not only for EPIX but for most stocks under the Radar.
After the morning sell off on this news and the Nasdaq Gap Down, EPIX recovered from the lows, showing again some relative strength against the market which closed near the lows of the day.

Trading Plan:
Hold EPIX with a stop @ $4.05

Regards,

Ramsburg · July 17, 2006, 03:08:34 AM

Update:
Friday's sell off pushed EPIX for a throwback on the neckline / breakout level, this situation puts our position in danger and near our stop level.

Trading Plan:
Hold EPIX with a stop @ $4.05

Regards,

la-onda · August 23, 2006, 04:40:50 AM

Epix Pharma quarterly loss narrows
By Ana Campoy
Last Update: 11:16 AM ET Aug 4, 2006

1)
SAN FRANCISCO (MarketWatch) -- Epix Pharmaceuticals Inc. (EPIX) Friday reported a second-quarter net loss of $3.16 million, or 14 cents a share, compared with a net loss of $7.1 million, or 31 cents a share, in the same period last year. The Cambridge, Mas.-based pharmaceutical company said quarterly revenue rose 28% to $1.36 million vs. $1.06 million.

2)
Shareholders of Epix, Predix approve acquisition deal
By Katherine Hunt
Last Update: 11:59 AM ET Aug 15, 2006

SAN FRANCISCO (MarketWatch) -- Epix Pharmaceuticals Inc. (EPIX ) on Tuesday said its shareholders have approved the company's acquisition of privately held Predix Pharmaceuticals Holdings Inc., as well as each of the other proposals related to the merger. In addition, the shareholders of Predix also approved the transaction. The companies expect that the transaction will close on Wednesday. In April, Lexington, Mass.-based Epix agreed to acquire Predix for $90 million, including the assumption of debt. In late July, Epix said it would pay an additional $35 million for Predix, as a result of a new collaboration deal between Predix and Amgen Inc. (AMGN)