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When we had previously talked about this, you convinced me to up my projected sale price. Darzalex alone justifies the current price, IMHO. Add whatever you think is rational on top of that. I'd say another 20 bucks, so somewhere between $40 and $50 would do it. What is your opinion?
On the other hand, my buyout theory might be all wet. Another cause might simply lie in the possibility that the buying is just the IBB forced to pick up shares as money pours into the sector. The float is small, as I figure about 90% of the shares are in the hands of institutions, So forced buying is going to be expensive. Do you think this might be it? I really don't know.
Well, it's only speculation, of course, but I'm betting that the company has found a buyer.
New 52 week high this morning. Impressive.
Things that make you go "hmmmmm...."
Yes, I had originally thought HALO was just drifting up with the sector but you're right that the bid remains today despite stiff headwinds. In addition to Darzalex the company reports first week of May and that might be a factor also, since there is a chance that the write-downs of the recent reorganization are behind us and the bottom line might prove to finally be an eye-catcher.
What do you think of that last point?
-Fritz
Exactly. Still scratching my head over Feuerstein getting so excited. He knows all of this and yet was banging the drum like all get out. Smell something fishy?
If they want a sub cu version you can bet that they are talking.
I've seen him in many other circumstances aggressively tamping down expectations of one drug prospect or another (non-covid related), so I'm rather surprised at his breathless reporting here.
GILD Interesting that Feuerstein is pumping this story. In another context, he would be the first person to emphasize the lack of scientific validity to this anecdotal report. Things that make you go "hmmmmmm..."
-Fritz
I'll interpret that as May = midyear, so I'll take what the man said at his word until proven otherwise. LOL!
Times reports Many Dermatology Practices Stay Open, Ignoring Public Health Pleas
New 13g filing shows Artisan Partners with new 10.5% stake in HALO.
I live in a large apt bldg and I can report that the package flow is going forth unabated. Yesterday the lobby looked like it did at Xmas time.
re: oil crashing - Paradoxically, CNQ is absolutely rocketing off of its lows.
Thank you that makes sense. I wonder is there a resource where one can get quotes on the spot price?
Both Bloomberg and Marketwatch have current prices over $20. So you are saying these numbers are not valid?
Thanks for your insight.
-Fritz
MarketWatch shows the current price over $20.00 tonight
If so that would be astounding. Do you know the bona fides of the poster?
Not sure myself, except for profit taking, maybe?
Some folks got some pretty cheap shares last week.
We are not really in the shit yet. This is only the prelude. We are living in a time of war now. In the weeks and months ahead you and I will lose friends and family to this, and we ourselves might be among the lost. If I stop posting here you'll know why.
We have our grossly incompetent, mendacious and pathologically self-interested Dear Leader and his team of obsequious Christian Taliban creeps and rapacious Billionaires callously and recklessly sending hospital staff into the breach without sufficient protective gear, while falsely asserting that the crisis is well in hand, and that will needlessly exacerbate matters.
I have never in my life been more disgusted.
Good luck to us all.
-Fritz
Good find. I was going to pull the trigger at $12. Still may get the chance, IMHO.
Could you elaborate?
Why is HALO positioned to enter the PS Targeting arena?
Also, not sure I completely understand your second line (re message from bio and Thermofisher.)
Thanks for posting.
Interesting topic.
From my own research:
Charles Duncan of Cantor: HALO PT: $35. Says Daratumumab due for approval in mid 2020 and that herceptin/perjeta approval in later 2020 is "underappreciated".
There was a brief report on CNBC that China reports only 17 new cases and that about 1800 people have recovered. If this is true, and if the European virus is not a mutation from the original Wuhan variety, it is a bit of good news and might support the notion that things will moderate with the weather.
Yes, canned goods, dried pasta and toilet paper. LOL
Interesting new job posting at HALO
Bruce, the chart Trumps your excuses.
Triple zeroes in sight.
How do you account for the drop in royalties? It certainly undermines the thesis that we'll get to a billion dollars by 2027.
I, too found that thought a little unsettling, although it was merely a hypothetical. PPS is definitely holding up in the face of major market downdrafts. I'm guessing it's because HALO is actively buying HALO. Helen was not her smooth self this time around, probably due to the CFO upheaval.
Still waiting for a good point to write some calls.
-Fritz
Piper Sandler maintains overweight raises PT to $40
JP Morgan maintains overweight but reduces PT to $22. (Huh???)
Needham maintains buy rating raises PT from $32 to $36
I would gather that's not much experience when it comes to structuring deals, since she was probably not leading that, but did get a chance to see it up close. It sounds like the new CFO might have been brought in for that kind of expertise, as it was strongly emphasized in the PR. So, to finally get around to answering your question, the likelihood is that of course Helen will stay until a deal is done, if that is the path that they take; but if it looks like HALO, Inc. remains as an independent entity, then she will surely leave for other greener pastures.
On a side note, I wonder if Steltzer was fired or left voluntarily. Curiously, there is no info on where her next stop will be. If she was fired then it would suggest an urgency in bringing on board the kind of expertise we have been talking about.
I was thinking that that might be a possibility if another opportunity comes her way before a deal is struck. Does she possess bona fide deal making chops? I can't recall what her background was.
(Interestingly, there was some discussion during the call that the new CFO does have experience in that arena.)
The exodus begins: Laurie Steltzer CFO is out the door. Helen is next I'd bet.
Good point and I agree. If those sales projections hold up Darzalex alone would justify the pps as it stands today.
It feels like something is up. Whether it's a new partnership or a buyout I can't say but the price movement with new 52 week highs almost every day this week is not something we would be seeing normally, to say the least. It could be the buyback plan also, or all three. LOL
Good info, thanks. Timing is the only question there. BTW, new 52 week high today.
-Fritz
Strong bid on today again, with significant volume and a new 52 week intra-day high. Good portents.
-Fritz