Another new coverage with $100 PT and another price decline. If not Pomalyst what else in a day when the biotechs are up?
Sentiment: Strong Buy
Well, if that's the case, it's a buying opportunity. When Kyrpolis was approved, CELG dropped about 5 or 6 bucks - down to 56 if I recall correctly. Probably because Cramer and some others incorrectly assumed that it would impact Revlimid sales.
How 'bout a dilutive acquisition of a company that won't add to earnings in this decade.
I am afraid you might be right. The market rewards companies that make money and not the ones that are run like university laboratories or need a constant infusion of cash.