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88 posts today not enough? :)
They didn't have a drug approved. They announced phase 3 results.
Must say, I'm a little surprised by the price action. I figured it'd at least flirt with the 52 week high.
Either way, solid approval.
All pdufa plays are going to be volatile going into the pdufa date! Look at the history of any stock that goes into a pdufa date and you will see that. Some trade even crazier like POZN, AVNR, etc.
The reason for the selloff on Thursday was because sheff sold 3/4 of his position to take profits off the table and he has a ton of followers who probably did the same.
Nonetheless, just wait till Monday and you'll see how crazy it is that one can get the yay or nay from the FDA itself before it reaches the public from the company.
Although, I'm not sure I'v heard of the FDA saying 'Not Approved' in an e-mail reply, I feel like most of the e-mail's received back from the FDA have said approved.
Yeah who knows could open around $20 in the PM then drift to somewhere in the 14-18 range.
Current PT's are:
$20 - Brean Murray Carret & Co - ~100% increase
$18 - Wedbush - ~78% increase
$14 - Piper Jaffary ~38% increase
$17.6 - average - ~73% increase
I'm assuming some of these targets will be increased and also we'll probably see some new coverage as well. I'd be happy even if the lowest target is only reached but I do suspect it will go higher.
I think $15 is within reason given it was there earlier this year before the pdufa delay.
Yeah it amazes me that they can open their mouth like that but I suspose the company probably told them that they'd announce on Monday Morning and the market isn't open now but still.
done...@_jroot
I'm not a premium message board member so I can't PM but I'll take your word! I suspect the company wanted to wait till Monday Morning on purpose.
At least copy the e-mail you have :)
Look at the whole market, most stocks have.
It's not that hard to look at the charts since July and notice that most stocks have trimmed quite a bit.
I also tried and didn't have any luck!
It's the markets dragging it down at this point.
I think probably between June 13-20th
Weird..a similar purchase (2.2mil shares) happened with NEOP almost immediately right after the close.
I don't think we'll see dilution until they get SPA for RIGS. Doesn't make sense right now since they have enough money for the year + a little into next year but I could see them raising once they get SPA for RIGS. Not to mention management said they had no plans to sell shares now.
I don't think many people expected 100% gains but I think some people did expect it to run to 6-7. Could be just light volume for AH right now or also could be the shelf that they filed earlier keeping it down. Nonetheless, good news for NEOP and the stock should continue to rise.
Congrats to those holding SPPI! Hopefully it rockets on Monday even though I sold out today (but still for profit :) )
I thought about getting in again when it hit 8.75 but decided not to...
It's a shame that stocks can be manipulated the way SPPI was today because this would've run a lot more had it not been manipulated and closed at 10.xx instead of 9.
Looks like cramer tweeted AF's article 15 minutes ago, could explain the down turn...
I thought about taking some off the table this morning before the raid but it was too late.
It's ok though I bought in at 6.80 and sold at 9.81 & 9.44 so I'm happy but I really was hoping to see this one land around 12.
Hopefully it gets approved for people who are still in.
Yeah I ended up selling my other half at 9.44, I don't like the way it's trading. Didn't want to chance my profits on this one.
GLTA
I'm wondering now how much upside SPPI really has now, I'm thinking approval would maybe get it to 11-12 at most and then it'd probably trade down to the 10s.
I've lighten up my position at 9.81, I had 44% profit so I couldn't chance losing that.
I had my trigger set at 8 and missed it by 6 cents with the low of 8.06. Oh well...I'm hoping it's approval and would expect news soon if it is otherwise the longer it takes the more I'll worry.
Yeah I wish I didn't pick today the day to add :) or waited just till after hours!
Might have to add some more tomorrow if the prices look good.
I think we'll have good results anyway which should propel the stock further.
Great news on SPPI! Approval on top of this will be even better!
I took a nice bath on PLX too :)
But SPPI (in at 6.8), CIGX and AMRN have made up for my loss * 2 :)
I'm still undecided about holding through on SPPI or taking some off the table. I'd like it to run to 10+ before the 29th and then I would definitely take some off the table.
AMRN price target raised to $22 from $11 at Lazard Capital
Shares are Buy rated. :theflyonthewall.
AMRN price target raised to $22 from $11 at Lazard Capital
Shares are Buy rated. :theflyonthewall.
AMRN price target raised to $25 from $15 at Leerink
theflyonthewall
Great pick on AMRN all. We had some good DD on this board for that pick. What are everyone's thoughts on short term PT? I remember after their first phase 3 announcement a lot of people sold early and AMRN kept running. I wonder if we see a similar trading pattern with this announcement.
SPPI - it will depend on where the share price is before the approval date. I'm guessing with approval we'll land in the 10-12 area but I think it has more potential to run once earnings are announced on May 11.
SPPI really has been a beast since the good earnings.
I suspect approval is on the way + another good quarter on May 11 which could really push this stock further. It's really beginning to setup like QCOR or JAZZ.
Spectrum Pharm initiated with an Outperform at RBC Capital
Target $12. :theflyonthewall
COM - I know it looks like it might break 8 today!
My only green today :)
Quite a bit of action at the end there. Tomorrow should be an interesting day to say the least...hopefully a similar day :)
Are you still in this one db7?
I'm wondering if we see a pull back tomorrow morning with a spike later in the afternoon...
There were two 2 million share transactions at 11:38
SPPI - Spectrum Pharm upgraded to Buy from Hold at Capstone
Capstone upgraded Spectrum citing the better than expected Q4 report that was driven by generic Leucovorin shortages. Price target is $10. :theflyonthewall
SPPI - off to a great start today! HOD as I post (7.35)
HGSI - I'm in this one with just about 1000 shares...should help re-coup some of my losses from PLX I hope.