I say honestly.
Don't look at PPS, which means nothing.
Look at MCap.
$800 Mil in not cheap.
It's its fair price, today.
I would say in "future projection" is not valued correctly.
I would say...... 1 Bil$ considering tyroid revenues (mere 20 Mil$/year x10 multiplier + 800M).
My guess is that something big is expected: big holders increased recently..... over 88% big holders.... + director bought..... + well funded (no secondary on sight).
If ph3 trial is terminated because of ovewhelmingly results, everything can happen...... at least +100%, + buyout + everything....
If not, no big uptrend until 2014.
Being caught in that intertidal zone between seeing the potential, sensing the intrinsic value, and (hopefully) realizing the optimal enterprise valuation sure makes it interesting, doesn't it? Hang in there... follow the money. Given all the heavy hittin' IH's buying EXEL stock, all the oncologic institutions buying into trials, and all the clinicians behind the science... eventually it'll play.