We will trend significantly higher in the next 12 months
What's your "play" if the economy continues to show it's going straight into the toilet as all the data suggests? You clearly don't think if the S&P declines 10% that ARIA is going to buck that trend....do you? As evidenced by this week, Ariad's beta takes a trouncing... and heck, it doesn't even react well to the upside when the market is up anymore.
I think if you've been listening to what I've been saying....ARIA the company isn't my problem; it's the macro, and I suggested that it would sadly be likely the just as ASCO arrives, the QE2 would be ending and the market would be taking a steamer like it has been...and Ariad, as always, will take a azzwhoopin in that environment.
If you look at who is holding this stock in the institutional category, there are a A LOT MORE macro guys than there are 'sector' specific guys like Sectoral or Orbimed or Redmile. Heck, Blackrock and FMR aren't biotechnology. They're macro....and they're the ones causing the toilet flush.
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