Just lost its gain for basically the whole year in a few hours. Does the market realize they have plenty of other products?? Geez!! Seems a bit overdone to me. Company should increase their paltry dividend or announce a bigger buyback. Do something besides just sit there. But hey what do I know.
I've worked in an Opthalmologits office as a technician. The Allergan guy was there every week. Product is heavily used and prescribed(virtually every patient was on alphagan, combigan, and lumigan). I worked for Glaucoma specialists. 4 doctor office, over 100 patients a day in New York. Just imagine the number of people across the country/world using this product and the doctors just continously prescribe them. The doctors I used to work for didn't just decline their prescrbing of said products by 15%(as the market just discounted this stock) nor are the 10,000 people who are getting old enough to retire everyday starting to get younger(future if not present customers for said products).
So this is the stock market and this is how companies become more appetizing to new investors. Somebody who dumped was obviously not planning on holding "forever" as this company continues to grow and become a bigger force in the industry, but it doesn't mean because it went down that the business is really worth "less" than two days ago. It is just a short term correction which every stock(not company) goes through and in 5 years, will be a fart in the wind.
Great insightful and intelligent comments!
I think patient AGN investors will be handsomely rewarded down the road.
The CEO is brilliant and has excellent leadership skills. Great generals might get a black eye, or two, at times but you can always bet on them winning the war with their superior skills.
One positive is that, a majority of investors who lack conviction have been purged,nd a new investors always see opportunity when the stock of a great company goes on sale.
Even Barrons proclaims that AGN is an attractive buy after yesterdays sell off.