Biotech Values

[DewDiligence]

Tim Anderson’s latest pump: LLY…

http://www.bloomberg.com/news/2011-12-06/eli-lilly-shares-rise-on-alzheimer-s-drug-hopes.html

Eli Lilly & Co. (LLY) rose to a one-month high after an analyst said success of the company’s experimental Alzheimer’s drug could double the share price. Lilly…gained 3.9 percent to $38.86 at 4 p.m. New York time. Expectations have been “extraordinarily low” for the success of Alzheimer’s drugs, so a Lilly success with solanezumab could boost the shares 50 to 100 percent, Tim Anderson, an analyst with Sanford C. Bernstein, said in a note.

LOL.

For those with short memories… Anderson is the sell-side analyst who claimed to have strong evidence in Aug 2010 that FDA approval of Teva’s Lovenox was imminent. Later, Anderson wrote that PFE would divest its branded-generics business.

I haven’t calculated Anderson’s batting average, but it must be worse than Jason Varitek’s.