Had very large position for a long time but am now out after exiting over a period of many months. The company has failed to execute and has now been mired for a long time by lack of demand for new test handlers. They had also lost a long term major test handler customer in MXIM and the only positive was there seemed to be good demand and acceptance of their reliability testers which business they have now sold. I got very bullish when an activist investor group got involved but what gave me the last push to exit was they have a lawsuit from a company named Uthe due to alleged misconduct involved in some ATRM employes stealing accounts. It looked like nothing but the court did not dismiss the suit and the company is burning cash in legal fees. Because of their business doing so poorly they let their cash run down to just $1.7M last quarter so to me if they end up losing this lawsuit and it's for a lot of money, I don't think bankruptcy is out of the question. Also I was figuring on getting a decent price on a sale of the company but now that they sold their reliability test division anyone who buys the rest and thus the parent company has to worry about that lawsuit liability. The activist team has not been able to accomplish much since taking half the Board seats and while maybe they'll be able to sell the rest of the company for a decent price I no longer think it's worth the risk with them failing to get the Uthe lawsuit out of the way. Eberwein the activist who used to be with Soros could along with his group and the company find a way to get a good profit out but I now have no visibility on that happening so I've moved on and after this being an albatross over my portfolio for years I feel better without it.
hi bottomsup. I like HZNP and have a lot in it but it's hasn't been doing well lately until a 20% pop Thurs on some news that I thought was OK but not spectacular but I think the stock was waiting for an excuse to take off. If it pulls back over the next week or two it might be a good time to buy. I've had access to the weekly Rx numbers which have been very strong but to my surprise they didn't translate into gross revenue causing a sell-off but I think this was a sloppy transition quarter and things should be cleaner in Q3. I wouldn't pay up for it as it bounces all over but again if you can get it for well below $250 and hold it should be good.
I also like ISIS on this pull-back after a huge run. I've been following it for years and the platform, pipeline and science have come together so the potential is enormous even after a huge run this year.. I jumped back in too soon at $29 and change but the correction has continue to now 25% off its recent highs so I think it's a great buy. I had sold out last year because I thought their lead drug would do lousy and it is doing lousy from what I can see but the stock went ahead and quadrupled despite that due to multiple drugs partners and good results in their triglyceride drug.before this pullback. It helps to understand the science of the antisense platform and the pipeline so