All of these hot pharma stocks which have become heavily owned by retail investors are vulnerable to these bear raids. The idea that the initial numbers on the Phase I MM trial were not overwhelming should produce this kind of selloff is pretty silly. Hopefully, some analysts will actually read teh ASH abstracts -- particularly the one which suggests that ibrutinib has broad scale ability to boost T-cell activity.
Correction: That immune-boosting activity was reported in a study for Kyrpolis, the ONXX drug for MM. It's hard keeping all this stuff straight. Anyway, the PCYC results for CLL and Diffuse Large B-cell Lymphoma were strong enough to justify the higher price targets out there. I don'tthink any of these were predicated on the MM results.