ENCY

ENCY is a company that I profiled way back when, and now its lead drug candidate, Thelin, was recently approved by the FDA, but it wanted more data shown. Wall St., in my humble opinion over reacted to the news and slashed the shares of ENCY by about 50%. I think this is going to be another ELN story where the stock was slashed alot, it went all the way to $3 and now its around $14. Even though it faces competition from Myogen,a company developing the same kind of drug, I believe this drug will be approved and it is worth picking up here at $4.29. Watch ENCY rebound from these low levels. It is a very speculative pick, only for those looking for huge risk-reward plays. Price target cut to $12.