The 200 DMA vs buyout price for biotechs will just not pan out, because most of the stocks PPS was been driven down from the 200 DMA because of a negative drug/research issue. We all know that research and positive findings is what drives the PPS up. Look at KERX, the 200 DMA is near $6, the stock is at .50 and it is currently trading where the market pegs it. These early stage biotech stocks are only worth their "cash levels & cash burn rate" until positive drug news is presented. To say a buyout should take it back to its 200 DMA, again doesn't work. Too many of these little companies end up becoming takeunders and many merge with private biotech companies with the public shareholder of the merged company loosing even more stock price in the end.
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