Look at every stock index out there including the Russel, stocks are down 10-15% and in this time period ELN is up.
You have to ask what is happening.
People want to own Alzheimer drug options and ELN is now that and profitable on Tysabri.
So ELN in the future is about plaque in the brain and it has a drug that reduces that. JNJ basically spent $1b to play this ELN option on this market segment. The executives and board at JNJ are not idiots this is one of the best run companies on planet earth.
I am not saying this drug will be approved in 2-3 and ELN will make a fortune, but this stock should run on this story as it has many times in the past. It could hit $20 in the next year and then head for $30 when they spend the money to go to phase three clinical trials in another year or so.