The ratings from Roth, which as far as I can see was an initial rating not a downgrade or when did they start coverage, is a hold. The MM boys will short, bash, option, etc. etc. to get a position at as low a price as possible, this is clearly an opportunity. There is absolutley no reason to sell if you are investing to make seriuos money, not short term change. This company will be first to market with a game changing, life saving device within 6 months. FDA apprval within 60 days and insurance company reimbursement to follow. Sell now and regret tomorrow, the market will always reward intelligent investing.
The guy from Roth was how i initially was informed of the stock.
They owned DNDN which i owned (finally sold my last part of my position last week) and he was commenting on a few other biotechs they thought were promising speculations.
I bought a bunch of MELA in the 4's and fives and traded it for awhile until selling on the Barron's article.
I wouldn't take Roth's call as a downgrade so much as I think he's just saying they wouldn't buy beyond $12 because it is still a speculative stock (in fact, at the time I became aware of it through Roth's initial comments, if I recall, he said they were buying it with a near term range of 12-13 pps with a long term value--if it gets approved--in the low 30's).
FWIW i want to own this again, but this is no market to really buy ANYTHING imo, so i'm waiting until the dust clears a bit as i think i will be able to buy it in the eights or low nines.
I could totally be wrong and it could get away from me, but i'm not willing to risk it at this point. peace