Schaeffer's Top Stock Picks for '25

Drug Stock Breaking Out After Rosacea Treatment Update

FOMX is on track for its best day in months

Managing Editor
Nov 7, 2018 at 9:53 AM
facebook X logo linkedin


Near the top of the Nasdaq today sits Foamix Pharmaceuticals Ltd (NASDAQ:FOMX), up 12.7% to trade at $11.4, after the drugmaker said its experimental foam treatment for rosacea met its late-stagy study goals. The company expects to file for a U.S. marketing application in 2019, with some projecting sales for the treatment to reach $110 million by 2023.

Foamix Pharmaceuticals stock is on pace for its best day since March 29. FOMX gapped higher back in mid-September following drug data, but since then has dug out a channel lower lows, culminating in an annual bottom of $4.12 yesterday. With today's rally, though, the shares are on track to close above their 20-day moving average for the first time since Sept. 25. 

Analysts have yet to come forward with bull notes, likely because they are already firmly entrenched in the bullish camp. All of the brokerages covering FOMX rate it a "strong buy," and its consensus 12-month price target of $16.20 is a substantial premium to the stock's current perch. 

Despite limited absolute volume, calls have held a distinct advantage in the options pits. Data from the International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) shows 455 calls were bought to open in the last 10 days, compared to just 95 puts. 

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?