mjm, a target is a target, the firms that cover this stock believe fair value is 9-10. I think $8.50 is a fair target considering that's around the 12 month high and the story keeps getting better. The fundamental and peer group analysis point to an even higher target. I place fair value at north of 300 M. That being said, there is clearly one big short seller and some "coat tail shorts" that roam here. They can move CYCC PPS around almost at will. The question is, when will they get nailed by some unexpected news? They have a very large short position now. Anybody can move PPS down. But how much more stock do they have short to accomplish that ? Could CYCC double by year end? Sure it can. Look no further than a 5 year chart and see multitudes of such spikes in this stock's history.