Zeev's Turnips Patch-No Politics (ZEEV)

[ardent jd]

chelsea

BVF is interesting from a longer-term perspective. The stock is cheap, the pipeline looks promising, and the Welbutrin product launch looks too powerful for even this management team to screw up. Having said that, these guys continue to find creative ways to suprise on the downside. Today has all the hallmarks of massive capitulation...big down volume on a "mere" sell side report that is essentially a rehash of everything everyone already knew was wrong here. Even so, better to wait for this thing to settle down, even if you have to buy it a few points higher. Keep it on your screen and revisit in about a month.