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Tons of option action today. I'm guessing it's folks rolling out their original covered calls to a later date so as to collect a bit more premium before giving up the shares. Just a guess, though.
BMY's Opdivo might be approved for Melanoma this year. They are partnering with HALO on a different indication, but it might redound to Halozyme's benefit in the near term.
https://finance.yahoo.com/news/u-food-drug-administration-accepts-115900042.html
Nobody ever disputed the acquisition of an immune response from a bout of infection from covid. That's been known since Jennings dosed his daughter with smallpox.
The problem lies in the fact that the coloquial definition of "unit" is conflated with volume of product. Hard to see how this can be overcome other than by patient and repetitive explanation by the sales team to the treatment providers and in turn, the providers to the customers.
Thanks for posting that. It's absurd that this issue of patent protection remains a topic quarter after quarter. If Helen can pick up the pace with new deals, the patent fall-off would be less of a worrisome matter. Merck has other plans it seems, so we're not going to be partnering with them going forward, I'd wager.
I wonder about the divergence in price targes between JMP, now at $62 and JPM, now at $52. That's a large spread.
JP Morgan reduces price target from $54 to $52, but maintains overweight. WTF?
Did you have a chance to listen to the call? (I haven't had the time just yet. I will probably not get to it until Friday.)
JMP Securities raises price target from $62 - $66, reiterates outperform.
Someone just bought 1000 Mar 65's. Not expensive, but of note.
So what is your prediction for the numbers this afternoon? You've always been spot on.
Large option bet today for March 45's. Didn't appear to be a rollout of a prior position.
Do you have any idea what business they are in?
Institutional holders are about 95% of the HALO investors. They are staying put for now. Helen's got to deliver on her promise of 3 new deals (one large, one medium and one small LOL!) in the near term. Meantime, we're going to touch the 200 day before it reverses.
Adds to my certainty that we'll touch the 200 dma which is hovering around $47.
SC efgartigimod PDUFA date pushed back to June 20, 2023
https://ih.advfn.com/stock-market/NASDAQ/argenx-ARGX/stock-news/90072505/argenx-receives-notification-of-pdufa-date-extensi
What was the news? I haven't seen it. TIA!
Another big options bet today on Feb 30's. Over 6 thousand contracts at $4 a pop. Similar volume for April 30s and April 40s.
Thanks for that Roche tidbit. Of course, HALO's crack PR team has it at phase 1.
https://halozyme.com/drug-delivery-technologies/enhanze/#pipeline_group_1
Yes, that was the one I was referencing that raised eyebrows, but seems like he was alone in that regard. Probably wanted to buy his girlfriend a nice gift for Xmas.
No, you're reading it correctly, however the sales were mostly to cover tax obligations, and these are stated in a little footnote right in the Form 4. There were one or two farily significant sales by a director that were more of the type to raise eyebrows, but not enough to establish a trend, in my opinion at least.
All the best,
-Fritz
With a few exceptions, management has generally held on to their HALO stock, so I don't agree that that is an issue here.
Helen was not on her game at this presentation. The one positive I took out of it was the three new deals. I'm not her biggest fan, but when she says things like that they usually become reality. The only question is how large the deals will be or, if moderate in scale, will they represent a new and impactful class of collaboration. Stay tuned.
In your estimation, why did they chose to force the debt into equity? Is there a strategic purpose? They had been paying a very favorable interest rate (1.5% if I recall correctly).
Today's drop was a combination of three things, IMHO:
a) technical factors, which I spoke about a few times in the last few weeks,
along with the precipitating events of the
b) change in guidance
as well as
c) the dilution.
In her presentation, Helen all but promised 3 new deals this year. One Enhanze deal, one enhanze plus high volume injector, and one small volume injector deal. If she can get them done, and if they're not small potatoes, it might help regain lost momentum.
Issuing shares at the conversion price of $23.79 and buying at $50, more fun with spinning wheels and financial engineering.
Meanwhile, Helen contunues to fail to deliver the goods but is good at creating these distractions....
SVP Leerink reiterated their outperform rating with a PT of $61, but that was 4 hours before the announcement of the calling in of the convertible debt.
Getting hit AH
Thanks. EOM
Not questioning the thesis, but he actually does say that repeatedly. And why not? It's a part of their business model. Do you think an acqusition (by anybody) is imminent now that the smoke has cleared to a large degree? (Imminent defined as next Q or 2).
Yes, but he literally says that every time he's asked. LOL!
I really don't have a feel for all of the various dynamics at play, including time frame.
Dew, in your estimation, what are the odds of RVNC being bought out vs. charting a solo path?
TIA, and Happy New Year!
All the best,
-Fritz
Everybody knows that there are dozens, if not hundreds, of IV drugs that could be co-formulated with enhanze, yet the pace of these deals is perplexingly glacial. Any ideas why?
Agree about the useless computer generated stuff put out by that "research" site. Disagree about a significant bounce, at least for now.
My feeling is that we get back to the $40s and see a period of consolidation maybe in the low $50s. Another run is not imminent unless triggered by a news event.
As I mentined about a month ago, my opinion is that HALO is fullly valued at the mid $50s and I thought that the run to near $60 was overblown. I said a pullback to $55 was a near certainty and here we are. I did have my trading shares called away and I've elected to put those profits into another more promising investment. I continue to hold my core HALO shares and will constantly reassess that position as the year moves along. A market downdraft and a long stagnant period with no percieved progress could result in this stock reaching the 200 day which today is about $46. On the other hand, a good stretch of new deal announcements and we could be on our way to the next level. Time will tell.
Happy and healthy New Year to all who post and lurk here. My best to you and your loved ones.
-Fritz
It doesn't take much to feed their insanity.
Wondering what concrete things your theory is based on?
Thanks, -Fritz
Thanks for sharing that.