Maybe northland got stiffed in the current offering, wouldn't make sense for a firm to let stock out at 6.80 and then a couple of weeks later down grade with a target of 6, they must be bitter. Cannacord at 12 and Northland at 6, one of those firms is crazy with the valuations being 600 million dollars apart, Wallstreet is crooked and self serving, which is not necessarily a bad thing:))
I remember I was in the middle of a very large trade in the mid 90's (large for me was 7 figures) and I was getting killed, I kept averaging down for a few days and then on an early morning the stock was downgraded and dropped over 10 percent, I was stuck, next afternoon stock was bought out for 60 percent premium, ever since that time, a million trades ago I was convinced Wall Street was crooked. Moral of the story, invest in great companies with great management and a product that is a game changer and in the end, you will win. In between expect to have your stomach churned because that is how it works, greed and fear. I am holding onto a buyout near 40 and everything else until that time is turbulence. If your goal is to time this stock, best of luck but you will fail in the end.
Northland: "at least on a fundamental basis.."
"Fundamental" is a key word from Northland. If biotech stocks were analyzed strictly via "fundamentals" many would have a valuation of pennies on the dollar. We all know that the speculation element is often in the equation in biotech, especially young companies such as MDXG.