Another stock that's setting up to trigger a near-term breakout trade is biotechnology and drugs player Amarin (AMRN), a late-stage biopharmaceutical company with expertise in lipid science focused on the treatment of cardiovascular disease. This stock has been on fire so far in 2012 with shares up over 90%.
This company has a major catalyst on the horizon, since it will go in front of the FDA on July 26 for the possibly approval of AMR101. (The stock shows up on a list of 4 Drug Stocks Facing FDA Approval Decisions in July.) AMR101 is a prescription-grade omega-3 fatty acid that is designed for the treatment of patients with very high triglyceride levels. With that major event just around the corner, this stock is a great candidate for a quick breakout trade ahead of the event.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV