Anacor Pharmaceuticals - Barchart's Chart of the Day

Anacor Pharmaceuticals (ANAC) is the Barchart Chart of the Day.  The drug stock has a Trend Spotter buy signal, a Weighted Alpha of 103.93+ and gained 138.25% in the last year.

The Chart of the Day belongs to Anacor Pharmaceuticals (ANAC).  I found the stock near the top of the All Time High list after I sorted for the stocks with the best technical buy signals and used the Flipchart feature to review the charts. Since the Trend Spotter signaled another buy on 10/16 the stock gained another 3.39%.

ANAC is a biopharmaceutical company engaged in discovery, development and commercialization of novel small-molecule therapeutics derived from its boron chemistry platform. Its three lead product candidates include two topically administered dermatologic compounds-AN2690, an antifungal for the treatment of onychomycosis, and AN2728, an anti-inflammatory for the treatment of psoriasis, as well as a systemic antibiotic for the treatment of infections caused by Gram-negative bacteria-GSK2251052. Additionally, the Company also develops topical antifungal product for the treatment of onychomycosis and skin fungal infections, topical anti-inflammatory product for the treatment of psoriasis and atopic dermatitis.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.


Barchart technical indicators:

• 100% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 3 new highs and up 2.88% in the last month
• Relative Strength Index 65.13%
• Barchart computes a technical support level at 22.87
• Recently traded at 25.65 with a 50 day moving average of 22.96

Fundamental factors.

• Market Cap $1.07 billion
• Revenue expected to decrease 15.30% this year but grow again by 28.20% next year
• Earnings estimated to shrink 214.30% this year but increase again by 14.30% next year
• I know these numbers are not impressive but Wall Street analysts issued 3 strong buy and a buy recommendation on the stock

The trading strategy that has worked best on this stock is the 50 day moving average.  I'd use that until we see better results from a different trading strategy.