Well, look at it as a secondary priced at 12.25. It may not get all the way up there right away, but it should move closer to 12 than 10, I believe.
Once again, in the interests of accuracy, I have to point out that Rep.Waxman was largely responsible for the Orphan Drug Act and the Ryan White CARE Act which mandated treatment for HIV. Without the latter, Gilead could not have prospered as it has. He was also instrumental in the expansion of Medicare and Medicaid, which has helped enrich the healthcare industry. The fact that he is retiring and is now positioning himself as a advocate of affordable healthcare - no doubt anticipating some nice lobbying assignments for HMO's - should not diminish the fact that he helped make it unaffordable.
JNJ is buying 18 million shares @ $12.25. It seems to me like the opportunity to buy shares from disappointed longs at 10 - 10.40 is attractive. I think this may open closer to JNJ's price tomorrow.
I think the selling here is on the part of the retail speculators who had their heart set on a $20 buyout. Nevertheless, this deal adds value to the company, I think. Let's see where it opens in the morning.
Just to point out that both sovraprevir and ACN-3102 have already been granted Fast Track status by the FDA.
The dollar spiked against other currencies today, which suggests that travel to the US by foreigners will drop off. Of course, an American booking a roundtrip to Europe may well replace a European coming to Disneyland. The Latin American traffic is another issue.
The possibility of an acquisition by JNJ or MDVN might also be considered. This company is not expensive.
I suspect that you are buying June calls for a short term profit (which may not be a bad idea). I am buying the stock to hold as a long term investment.
Well, we were both wrong, but I was A LOT wronger than you. I was so sure that it would retreat back to 105 by today that I started to short it at 106.80. The lesson here is that which way the options move depends on who owns them. The big winners were those who bought the 100 calls a couple of weeks ago.
That was an orchestrated short raid - they threw a lot of shares in at the open and took out all the buy orders and then held it down. I also bought my first position yesterday - they have to buy those shares back eventually - but I don't expect it to rebound that quickly. As we see today, the shortsellers are buying into the rally and then selling shares to discourage you. They will pin it and churn it here around 65.50 and cover a bit of their position in the process. Should be back to 70 before Christmas, though. Folks may not need diamond bracelets from Tiffany, but everyone needs underwear and socks. That would be a 7% gain, plus the 2.5% dividend, which would be fine by me. I would also note that any stock which Cramer pumps garners a contingent of retail investors who are skittish and prime targets for this kind of shenanigan.
Their downward revision - particularly what they had to say about shorter duration of treatment - made me sell all of my position on 4/20. My own innate optimism about Xtandi led me to buy back a quarter of my position yesterday. One of the few times I was ever glad I listened to an analyst.
I had the idea that the share price would be dragged down by that huge clump of May options, so that even if earnings were good, there was no point buying this until after expiration. When this moved above 105 after earnings, I thought it would hang around 107.50 to sell the 110's.(It did briefly - by not holding a position into earnings, I missed the opportunity to take a nice profit.) But watching it get sucked down to 105 last Friday by a relatively small number of calls, I began to have doubts. If it can't get substantially above 105 by next Tuesday, I think that in the absence of news, this may end up at 100 on next Friday. Which still doesn't mean that Stan's June puts will finish in the money. I will probably add some shares on the week of May 18. Meanwhile, despite all the handwringing, GILD has survived an almost 10% drop in the IBB since March 20 relatively unscathed.
Yep. But the fact that it is in synch with the IBB lately demonstrates that buyers are biding their time. Since March 20, however, it has outperformed almost all of the major components of the IBB.