I've been holding off,but at these levels, i see alot of upside potential and not much downside risk.
Company keeps on buying back shares. Icahn just bought more shares.He's not a trader in Enzon. He's holding out for the big Enchilada . He wouldn't be a trader in a company that doesn't have many shares outstanding and up until a few days ago didn't trade very much volume . He owns about 15% of co and accumulating with Seth Klarman who owns an additional 20%.
Remember too that they are in partnership with one of the largest pharmaceuticals in China on the phase III study of their breast cancer drug which will be marketed through China and Asia .
From the Technical standpoint stock has been forming a reverse Head and Shoulders pattern for the last year after a hefty decline.
Just a few days ago, another poster claimed that Icahn purchased additional shares of ENZN however there is nothing I could find per SEC filings that indicated that. Where exactly are you getting this info that Icahn made additional purchases? I asked the same question to the other poster with no response...