nothing makes me important. just cleaning up playing puts/shorts on various biotech names. this is my way of gloating.
I have to laugh at you for even mentioning Cramer. Why are you so fixated on him? Stocks go up and down, even the ones he recommends. Stocks crash for a period, even the ones he recommends. I am no fan of Cramer and don't watch him, but what do you expect? His stock picks to rise for all eternity??? BIIB has been a darn good stock over the last 5 months. Those who were loyal to a fault, well, they are about to learn a lesson.
No, actually we don't want to hear your targets ever. It is hard to take someone seriously with the alias "Johnny's meatballs."
A PE of 27 allows for no room for error, and a fairly valued stock would be around half that PE, so, Biogen ought to be 175 at fair valuation...I would protect with puts and stops at this point. If there is an overall market decline the high PE momentum stocks would be crushed, and at that point, most would be oversold if not fairly valued.
The PE is 30, so the ultimate bottom could be half that, or 175 or so to put in a floor on a technical/fundamental basis. At the moment, I wonder if the company has news that isn't publicly known, and there is nervousness because of the Akorn restatements, along with other pharma trial issues, lately.
Yes it is way overdone now. You could tell there was manipulative selling today. These comments from the CEO should push the stock back up to at least $400 in the short term. The PE is 27 now even with the reduced estimates, and growth is still phenomenal.
Hold on and keep selling calls against your position to pick up some income
this is just being manipulated down in a short time frame, so that big boys can pick up some cheap shares is my guess...
And I read that they are building the manufacturing facility for BIIB027. Wow
It seems they are very confident in the drug, to spend that kind of money.
That is good news,
Meanwhile the shares of some Mexican fast food is way higher. Just comparing the two is funny.
One is saving lives, the other is just not all that.
Sentiment: Strong Buy
His silence is oh, soooooooooooooo.. predictable! That is, when a stock is on the move up Cramer will be crowing like the hormone-induced bird prancing & crowing around like crazy, "bio-techs is the WINNER", "I told everyone to must-have these 4 horsemen" etc.
Now that all these 4 horsemen are down, where is Cramer? Not a peep from him about these 4 horsemen-must be the 4 horsemen trampled Cramer!
In short, Cramer is nothing more than a JOKER, reading from transcripts written for him by others. The whole show is professionally choreographed. Those phone calls, 'John from NY, booyashi.', is actually from a guy in the room hidden from view.
Disclosure: I NEVER trade with Cramer's news-Its sheer STOOPIDITY to do so!
Investors are not rewarding performance but punishing even a hint of disappointment. Actavis will be reporting, too. A sell off like this can mean some sort of impending bad news for a specific name, or for the entire sector, so a continued decline in Biogen may mean some sort of material news not yet known., but rumored. The Akorn financial restatemen ts may be spooking investors who realize that any firm is vulnerbable at this stage. I'd buy protective puts in the case of CELG, ACT and GILD. The danger here is that these stocks could drop 60-80% from these levels, or more. with some approaching 0 in extreme cases. When a bubble bursts, some companies never recover, especially in an industry that has no earnings, but only potential. If any other big name Pharma disappoints, especially Actavis, that would be game over for the sector for the time being. I woulkd be very nervous over the bigger momentum names, because very quickly, they could decline, wiping out gains, creating margin calls, and ending the pharma/biotech long term rise. Or...the opposite can happen, as it has several times.
looking at the way it's trading today, it's like somebody wandering around in a no man's land trying to figure out what to do and where to go...does this stock always trade like this or is it just after earnings volatility with bio sell-off yesterday and fed meeting to boot...earnings weren't that bad for this to fall this much...thought this was more stable than the other bios...guess not