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abksmin 3 posts  |  Last Activity: Jul 1, 2014 9:04 AM Member since: May 2, 2002
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  • July 1, 2014 6:53 AM EDT
    Janney Montgomery Scott upgraded Amicus Therapeutics (NASDAQ: FOLD) from Neutral to Buy

    July 1, 2014 6:55 AM EDT
    Leerink Swann upgraded Amicus Therapeutics (NASDAQ: FOLD) from Market Perform to Outperform.

  • abksmin abksmin Jun 9, 2014 5:45 PM Flag

    Cramer probably bought ACHN shares a while ago in the $2.6 range ... his pumping on fast money will add to the pps rise tomorrow. But it does not impact the longer term price.

  • From SA article today --

    SEC FOIA Request shows Current Law Enforcement Investigation.
    After ETAK repeatedly failed to maintain effective internal controls, BDO declined to remain as auditor for 2014, was replaced by tiny firm Squar Milner.
    Recent noisy director resignations citing concern over board independence, related party transactions, and continuing net losses raise red flags: Is the fox now guarding the hen house?
    NYSE delisting proceedings have reached maximum number of extensions allowed to regain compliance.
    Revenue has declined by 50% since 2008 while shares outstanding has increased 5 times: Fair value for ETAK is $0.20 per share if the company avoids bankruptcy.
    I believe investors should be extremely cautious about Elephant Talk (ETAK) shares and give a SELL recommendation at the current price of $0.86 with a price target of $0.20 if it can avoid bankruptcy as its cash burns rapidly.

    Current active law enforcement investigation

    According to a Freedom of Information Act (FOIA) request with the SEC there is an ongoing law enforcement investigation into Elephant Talk.

    The FOIA can be accessed here.

    Specifically, the FOIA reads:

    We are withholding records responsive to your request under 5 U.S.C. 552(b)(7)(A), 17 CFR 200.80(b)(7)(I). This exemption protects from disclosure records compiled for law enforcement purposes, the release of which could reasonably be expected to interfere with enforcement activities.

    This means, beyond any doubt, that Elephant Talk is the subject of a current law enforcement investigation.

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