These jokers crack me up. Get me an analyst who tells me BEFORE the dump. Then I'll be impressed.
More clowns emerge every day. There was some idiot who downgraded today. Uh, a little late. Maybe downgrade last week.
This idiot was like the person telling people to leave Nagasaki a week after the bomb blew it off the map. Duh.
There will be the inevitable margin calls and knee-jerk responses to those who saw it down yesterday so much and some will sell without ever even knowing what drove it down.
Then, once things calm down, the bottom feeders will come in and see the tremendous value that is still represented and it will claw back much of what it lost.
I agree with you that it will dip into the $19s briefly and that should be about it. Those that buy at the 19-20 levels will get bragging rights for years when it bounces back.
Also agree with the market cap of $2.4B is almost comical, but again, once things calm down and the cooler heads look at the value of the company versus the stock price/market cap - the big money will move in strongly.
Don't let the clowns fool you by pretending it is going down far more than it is. The value of this company far exceeds the one drug that didn't proceed. The cash flow is excellent for a biotech, the cash position is strong, and while the GSK is a setback to be sure, in time it will be revealed to be a minor setback.
I have to concede that I feel lost. Lost in the corruption of the FDA. I feel that nothing good happens with the FDA.
The entire sector turned down heavily back when Hillary got on her soapbox and targeted the pharma sector. It has been almost straight down ever since. Go back and look at the chart and look when Hillary came out against the sector.
Harry, I have already lost more on this stock than you will ever have invested in it. I pray to God it will get approved but the FDA simply won't do it. Additionally, I never thought SRPT would ever be in the $11/share range even if it were flat denied outright, so I was wrong in thinking it would get approved and wrong about the share valuation.
I am not, never have, and never will short this stock. You can pretend what you want if it makes you feel better. That's what most of us longs were doing all along as we ignored the small number of patients and the repeated delays filing with the FDA.
All this talk about what will be price be when they get AA etc. is nice but a little scary. The FDA won't approve the drug even though they should. Let me say that again, the FDA should approve the drug. They just won't.
I wonder if they will change the name of the FDA to the FMA (Federal Mafia Agency)?
They are as crooked as it gets.
So you have been in this stock for 14 years, so you got in around 2002 at about $55/share and now it is at $12 giving you a 14-year return on investment of -75%.
And you're giving advice?
No surprise since the upcoming Adcom is a binary event. Uncertainty makes for volatility and if they time it right in a short term play, they can make a few bucks. The risk reward ratio isn't there though, not by a long shot.
Between the politicians running their mouths, the FED trying to artificially raise rates even though there is nothing in the economy driving it, just because they think the economy can tolerate it, the terrorist strikes, etc., this market is fully and completely broken.
It doesn't work.
I sent CNBC an e-mail about the error, claiming PTCT was down because of the unfavorable Adcom with the FDA; when it was really the BMRN Adcom and nothing to do with PTCT, but they have done nothing about it.
I got some 2-bit response from a Customer Care Representative named Alicia, but it is clear CNBC cares nothing about quality or accuracy.
This stock should be over $50 right now and this is a great chance to get in low while the stock is artificially repressed. Major catalysts coming in the next month include updated NDA filing with the FDA then EMA, followed by dull EMA approval, then favorable Adcom wig the US FDA, then approval by the FDA. Next six mo the should cause this stock to quadruple, maybe even go up 6x from present levels.
No reason for the decline since March 19th of this year, though the latest drop from $55 to $41 can be attributed to Hillary Clinton's comments against biotechs.
I did notice that Cramer stopped touting ISIS at about $60/share on the way up to $77 then has withheld his endorsement ever since. I don't think anything is wrong with ISIS at all, but if he is holding back, it is because he is being told to. So look for him to get back on the ISIS bandwagon soon and we will know it is back in favor with the MMs.
Nobody should be surprised that Cramer is playing up BMRN's patent case victory because really that is all they have going for them. Their drug doesn't work (not effective) and has safety problems, so the paper patent is all they can really hang their hat on.
It is an important victory for BMRN especially considering their drug doesn't work.
I never said I sucked at timing (though truth be known, I DO suck at timing).
All I said was that if you bought 2 years ago, you would still be down 30%.
That is a fact. Period.
If you can do market timing then good for you. That isn't what I was saying.
If you were really good at market timing, I'm sure you could have bought at $12, sold at $50, bought back at $15, sold at $40, etc. and could easily be up over 1000%. IF you were good at market timing.