It's a better time to cover the short position, that obviously has turned against you, before you lose your shirt and pants.
To others: Ever notice how desperate people relate desperate things when stocks don't go their way?
TEVA has a TD drug and it sounds like they did not get the approval they wanted. Obviously NBIX is fast tracked for a drug to treat same illnesses.
NBIX chart will achieve chart heath of approval certificate on Wednesday ................ just in time for their Jeffries presentation!
Very bad news for anyone short NBIX!
Neurocrine chart continuing to repair itself, in terms of getting healthy ........ again. Retesting it's 200dma ........ average daily volume since the beginning of year is heavier than that for the same period of time last year ......... demonstrating, that many more are aware of Neurocrine's impending tartive drug submission & approval.
Suspect a completely healthy NBIX chart is approximately 1 month away. We shall see .........
Tried sharing earlier that Neurocrine was following the biotech formula for success ........... and the stock in the company would go a lot further than anyone ever believed was possible. NOTHING has changed, except that the company is on the cusp of submitting it's first significant drug to the FDA for approval, with even more significant drugs in the pipelines demonstrating significant success going through their phase testing.
Congratulations if you're in this stock and company, because it's going a lot higher!!!
Presentation being done by Joshua Burke Wednesday April 20th
Subject: Kinect3 P3 trial of Valbenazine for TD
There is also a panel discussion, Should be a PPS mover as the analyst get more details around the drugs profile and label.
I have to admit frogs, you have been ahead of this one for a long time. You were the first one to mention $75 PT here and it looks very doable even this year. Now you are talking $150 in several years. From your mouth to the market's ears.
institutional ownership is 87.965M shares 101.5% of the float
Mr Shortie going to need institutional selling to rotate out of any type of large short position.
I agree frogs. There are always regulatory potholes to watch out for in biotech, but so far so good. I don't plan to sell any this year, but starting in 2017 I plan to sell 1K a year for the next fifteen years. That will make me 87 when the well runs dry assuming I don't kick the bucket before. It is a pleasant prospect and I am not referring to the bucket. GL.
Lets see what the trading looks like on Thursday and Friday going into ANN Conference next week.
if we can settle out at around $48 for Fridays close we have a good chance of breaking $50 on positive news next week. Most likely NBIX will not hold $50 but thats another story for another trade.
Given that about 50%+ of the patients are finished with the 1 year Valbenazine safety trial we should get an update via the panel discussion. Safety data in July equates to lift off for the stock as it sets up a buy-out scenario and new 52 week highs in the $60/70 range
Sentiment: Strong Buy