first rule of shorting, never short a momentum stock. I really don't care about a drop to 65, I would be buying more. But you shd be concerned about a run to 80, imo.
ANAC went from $13 to $69
if you like those kind of stocks like I do I just bought FOMX at $13 today
people laugh but these Baker Bros make good choices for the long run
Just ba few weeks ago this stock came down closew to $50 a share, man did it bounce back good. If the stock was to go to $45 a share because of the summer doldrums, it will bounce right back up, especially when they announce the current quarter earnings. I purchased this stock in Nov. 2013 at $12.00 a share after reviewing the company and its prospects for future growth. Am very satisfied with the companies diligence to bring the company to a more mature biotech company.
Never underestimate the demand for small boutique biotech/pharma companies that could create huge value in the long run. Anacor has a great chemistry platform and some really attractive R&D. Buyout could very well happen, especially if AN2728 data is pretty strong.