SRPT yea bio's are not my cup of tea. SRPT's financials look good, but management performance poor. No divvy, no earning or projected earning in the next 5 years. I can never understand why institutional gets involved with the hit or miss sector. But since most Bio's have large institutional ownership, that's why they pop and dive so LARGE, so fast on news. Lots of trading money, not investment money, flows in and out on the next hot/cold thing.
Guess the huge Nov 2013 dive was the FDA not approving the first try at eteplirsen. As the PR announcing a second try caused the April pop. PR announcing they bought a factory, I'm sure helped. But as always; No BIG news is bad news, in the sector. No matter how well or poorly the company is doing on their existing pipeline rev's. It's always the next big thing, which drives price.. And the sector is made up of mainly big money swing traders, not investors. A high speculation sector.
Right now shorts are @ 30% and that's scary. No matter how strongly the company is putting on the "It's in the bag, face." with their factory deal. Big money is betting against pipeline resulting from approval happening to produce rev's next year.
Good luck. It's defiantly a swing trade, as all Bio's.
