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19 Jul SRP Swing Trade Alert- EXEL

Posted at 14:49h in Sample Reports by

EXEL 21.80 area-

25% potential on a swing with strong earnings beats last two quarters

7 Billion market cap, profitable, trades 1 million plus shares daily

3rd week in row on swing trade ideas list. 4 weeks tight closings looks like bullish Flag pattern. Biotech company develops novel small molecule therapies to treat cancer.

In the most recent quarter earnings per share came in at 21 cents vs 14 cent estimates and the 2022 PE ratio is about 22 with 35% plus growth expected.

The companies main revenues current centered around its top-selling drug, Cabometyx  , which treats patients with advanced renal cell carcinoma. The drug generated $302.8 million in sales for the first three months of 2022, up 35% year over year.  Those numbers could get much bigger as the company has several trials taking place for cabozantinib to treat gastroesophageal cancer, head and neck cancer, and other diseases.

Earnings are due roughly on August 4th and are expected at 25 cents per share, they have smashed estimates in the past two quarters. Profit margins of close to 20% make Exelixis one of the safer biotech stocks you can invest in

Chart looks bullish for a breakout to 26-27 area once over 22.80 if I’m right. Biotech sector  is leading and currently consolidating recent gains.

Trade Advice:

Max entry 22.10 adding to 21.25 on dips

Stop 20.50 near close

Target 26.80 for 20-25% potential