JP Morgan is out with a research report this morning with a positive comment on JTT's P III in CKD and saying that CKD is currently not heavily weighted in its valuation -- it accounts for approx. $4 of its $14 price target (discounted at 50%) and if the PII trial shows decent hemoglobin trend it should be worth more like $10 of value or more. They are calling for 20-30%+ immediate pop if the data is good vs. 10-15% short term decline if the data isn't good; and they expect news in the next few days.
They said that ckd accounts for $4 of their $14 TARGET AND IF THE pII DATA IS GOOD IT WOULD BE WORTH $10 (DISCOUNTED AT 50%); SO BY MY MATH IT SOUNDS LIKE POSITIVE p ii WILL MEAN A $20 PRICE TARGET (SORRY ABT CAPS)
I agree. I think they are talking about an initial pop of 20-30%. I would expect several points of follow through as shorts cover, analysts upgrade their price targets and institutions who have been waiting decide to step in.
Amazing that a JP Morgan reiteration of an overweight recommendation is not coming across the Dow Jones news wire!!! Have search using the news feature on Scottrade Elite and it is no where to be found. This is the kind of $hit that turns me into a conspiracy theorist and a proponent of the notion that wall street is fixed. Oh well our day is coming, good luck longs.
Sentiment: Strong Buy