Good day guys,
I haven't been able to find any information whatsoever through my usual channels. Any one have a clue to the reason for the drop? The only thing I can remotely think of is Cramer's upgrade. Cramer has always been one of my favourite contrarian indicators. However I've noticed that for the stocks of mine he has downgraded, no one seems to do the opposite! So I'm wondering if this is the case here at all.
Would appreciate intelligent conversation on this. Thanks!
CELG is down over Bernanke---nothing else. It should be a huge winner in 2013. Finally get a chance to add to shares. CELG should hit $130 in a few weeks time-----split may be in the works. AWESOME COMPANY!!
ASCO Book was published on-line Wed. Night. There are maybe 200 or more studies of different Celgene Drugs. (Revlimid and Pamalidomide). The studies were good IMHO but not really earth-shaking. Some folks were expecting more and sold on the news.
In my uneducated opinion the drop i s extremely bullish because it meas the hedgies and dark pools are driving the price down to pick up stock cheaper. The sellers are either uninformed retail or the hedgies and dark pools manipulating it down. Forget the SEC. They don't do manipulation anymore. (because the can't track the trading due to changes in the market structure such as computerized instant trading and they either can't or won't get into what the hedgies are doing.
Not sure if it has anything to do with ASCO annual meeting that will take place from 5/31 - 6/4. Maybe the institutional investors are trying to shake out some shares to pick up cheaply before the conference.
Celgene, Gilead lower after new data published at ASCO
A slew of pharmaceutical stocks are moving after they published data at ASCO, an annual meeting of oncologists. WHAT'S NEW: Gilead (GILD) is falling after announcing results from a Phase 2 study of its idelalisib drug. Patients with a form of leukemia received idelalisib and another drug called rituximab during the study. The complete response rate was 19% and the overall response rate was 97%. The leukemia did not advance in 93% of patients after 24 months. Celgene (CELG) is falling after its Revlimid drug achieved a response rate of 56% with a median duration of response of 13 months in a clinical trial of patients with multiple myeloma. Biomarin (BMRN) is retreating after the company reported that its BMN-673 was well-tolerated and produced positive responses in 65% of patients with ovarian/peritoneal cancer who had received the drug. ANALYST REACTION: In a note to investors, Piper Jaffray analyst M Ian Somaiya wrote that data for Celgene's Revlimid drug was positive. Multiple myeloma could become a $3B market for the company in Europe, he forecast. Data for Gilead's idelalisib was also positive, and the treatment could increase the company's revenue by $2B, he contended. Somaiya kept Overweight ratings on both Celgene and Gilead. Biomarin's data was "impressive," as the results suggests strong efficacy for its drug among solid tumor patients who had a median of four prior therapies, wrote Leerink Swann analyst Joseph Schwartz. He kept an Outperform rating on the shares. TODAY'S PRICE ACTION: In late morning trading, Gilead declined 2.5% to $55, Celgene dropped 4.6% to $124, and Biomarin sank 5% to $64.45.
Allow me add this about Thalidomide, Revlimid and cancer.
My mother was a Multiple Myeloma patient of twelve years, which is about as long as it gets.
In the beginning, she was treated with various cocktails that had some degree of effect, but as the cancer grew became less effective. She was exposed to various cancer trials, also with little effect. After some years, she changed doctors to the leading MM Doctor at the Myeloma Institute in Berverly Hills CA. This doctor also had little success in the beginning treating my mother. But her second doctor was mistaken in thinking that she had already previously been treated with Thalidomide .. therefore did not expose her to it in the beginning.
Upon finally treating my mother with Celgene's Thalidomide, the cancer cell count was reduced dramatically to a point that she was either taken off chemo completely for lengthy periods... or by highly reduced dose given by tablet consumed on intermittent days.
Eventually she developed a allergic reaction to Thalidomide and had to stop taking it. She made the decision in November 2012 to stop the alternative chemo. She passed away in January .
Revlimid is an improved version of Thalidomide.
Personally, I'll never use chemo treatment if I ever am diagnosed with cancer. Thalidomide/Revlimid nor any other chemo drugs cure cancer in my view. Every time the dose was stopped or reduced, the cancer cells would increase again eventually
However, Revlimid IS IS IS highly effective at keeping cancer down at a manageable levels in many cases for many years, and this does server purpose for patients.
Strict food diets, increased oxygen, higher blood PH levels, managed stress are the best cures in my view. However, most cancer patients will never know this because the cancer doctors don't want them to know. And most folks won't never change their lifestyle.
Improve your immune system and cancer has less chance to get you. That is precisely what Revlimid does... improve your immune system