why no upgrades....
There is something extremely wrong with that. Extremely. The ratio of market cap to number of employees is 100 million, lol. That means, on average, each employee contributes $100M in market cap to the company.
That's about 5 to 20 times other biotech companies.
What is says is investors feel a couple clever guys can come up with a multi-billion dollar drug. Possible I guess, but super high risk, imo.
I work for a $2B market cap company (always profitable) in the high tech space, we have 1,500 employees - a ratio of $1.3M in market cap per employee. But it's not biotech I guess.
The new offering is exactly the way to handle the required financing of the Hyperion acquisition. The offering of $300M in notes (today) combined with the $400M equity raise (last week) and a $500M improved line of credit (today) all provide for a smooth, almost seamless, way of paying for the acquisition.
There is always uncertainty around how things will get paid. This puts that to bed.
Most importantly, and this is not lost on any of the brokerage firms and banks, HZNP is involving them all (i.e. ensuring they are getting a cut) in the whole process of acquiring and funding. They will all want this to continue so they can share in HZNP's success. The end result will always be a favorable view on HZNP ratings and forward looking price targets.
Firms that don't involve Wall Street and "go it alone" to avoid the high fees are always shunned and shut out by the Street.
clgraham - THANKS, that's some funny SHIT!! Made my day. I think I will buy more OLED now because of that post - there is real truth behind the laughs. If you see a 5000 share buy go through later, that will be me.
Canaccord Genuity analyst John Newman reiterated a Buy rating and boosted his price target on Medivation (NASDAQ: MDVN) to $180.00 (from $132.00).
"We estimate ~$1.4B in peak sales for Xtandi by 2020 in the non-metastatic CRPC landscape, given the recent positive data from the STRIVE trial, which included nonmetastatic CRPC patients, with significant PFS benefit vs. bicalutamide (14.7 vs. 8.4 months)," Newman said.
He continued, "From retrospective real world data (Soto et al. J Clin Oncol. 29:2011), we project ~80,000 non-metastatic CRPC patients who have failed LHRH analogues with a rising PSA by 2023. We give Xtandi peak shares of 18%, with a slow ramp starting in 2015, as it continues to take share away from anti-androgens like bicalutamide."
For an analyst ratings summary and ratings history on Medivation click here. For more ratings news on Medivation click here
A 1000 shares? That's all? Wow, big conviction on his part, LOL. Did he pay with Visa or cash from his wallet?
The stock sold off because the sellers now think the stock is not worth as much anymore. It's that simple. Don't make up reasons for this stock cratering from 28 to 19. It's not window dressing, it's a realization by the sellers that it's not as good as they thought. Simple as that.
Analysts at Piper Jaffray upgraded Horizon Pharma plc
from Neutral to Overweight.
The price target for Horizon Pharma has been raised from $21.00 to $31.00.
Horizon Pharma shares have gained 60.42% over the past 52 weeks, while the S&P 500 index has surged 11.42% in the same period.
Horizon Pharma's shares rose 2.02% to $26.30 in pre-market trading.
I don't have a link, it was a note in my realtime TD charting program (java based) at 3:05pm. The note is still there but I can't copy it or link to it. It's just a one liner like the title of this post.
This is the reason for today's breakout :)