Could Checkpoint Therapeutics, Inc. (CKPT) Gain Strenght After Forming Bearish Wedge Down Pattern?

July 16, 2018 - By Robert Shackelford

The stock of Checkpoint Therapeutics, Inc. (CKPT) formed a down wedge with $2.50 target or 7.00 % below today’s $2.69 share price. The 7 months wedge indicates high risk for the $86.12M company. If the $2.50 price target is reached, the company will be worth $6.03M less.
Falling wedges are poor performers for bullish breakouts and are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 11% and 15%. The average rise is 32% and the decline is 15%. The falling wedges has high throwback and pullback rate: 56%, 69% and the percent of wedges meeting target is not very high.

The stock decreased 1.82% or $0.05 during the last trading session, reaching $2.69. About 9,855 shares traded. Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) has declined 57.88% since July 16, 2017 and is downtrending. It has underperformed by 70.45% the S&P500.

Analysts await Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) to report earnings on August, 8. They expect $-0.35 earnings per share, down 25.00 % or $0.07 from last year’s $-0.28 per share. After $-0.35 actual earnings per share reported by Checkpoint Therapeutics, Inc. for the previous quarter, Wall Street now forecasts 0.00 % EPS growth.

More news for Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) were recently published by: Benzinga.com, which released: “40 Stocks Moving In Wednesday’s Mid-Day Session” on June 27, 2018. Benzinga.com‘s article titled: “Benzinga’s Daily Biotech Pulse: AbbVie Launches New Pediatric Humira, IPO Deluge Hits The Street” and published on June 21, 2018 is yet another important article.

Checkpoint Therapeutics, Inc., an immuno-oncology biopharmaceutical company, focuses on the acquisition, development, and commercialization of non-chemotherapy and immune-enhanced combination treatments for patients with solid tumor cancers. The company has market cap of $86.12 million. The Company’s pipeline consists of human, immuno-oncology, and checkpoint inhibitor antibodies that target programmed death-ligand 1; glucocorticoid-induced TNFR-related protein; and carbonic anhydrase IX. It currently has negative earnings. The firm is also developing three oral, small-molecule, targeted anti-cancer agents that inhibit epidermal growth-factor receptor mutations, the bromodomain and extra-terminal protein BRD4, and poly polymerase.

Checkpoint Therapeutics, Inc. (NASDAQ:CKPT) Ratings Chart

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