I sold in the $10s around time of AMGN announcement and bought back today.
Hoping for the best.
I am more concerned about the overall market now that BABA hype is over.
Sentiment: Strong Buy
NEW YORK, Sept 18 (Reuters) - When Alibaba Group Holding Ltd begins trading on Friday the shares may not be able to avoid the kind of volatility typically seen in trading of eagerly anticipated IPOs, even as the bulk of the shares sold are expected to reside with 25 to 50 behemoth institutions.
Underwriters hope that allocating the majority of the Chinese e-commerce company's shares to institutional investors, thought of as being less likely than their retail counterparts to sell quickly, may prevent Aliba
The company is expected to sell about $22 billion in shares after the close of trading Thursday in what is expected to be one of the biggest IPOs in history.
"For this kind of large deal, it's very common to allocate the bulk of shares to the large institutionals who will hold it for the long run," said Josef Schuster, founder of Chicago-based IPOX Schuster LLC, which helps create index funds for IPOs.
Yet the line of fund managers who look set to dominate Alibaba's (Symbol : BABA
IPO does not guarantee investors will hang onto their shares for very long, especially if they do not get what they want out of the allocation, people watching the IPO said.
"The biggest pitfall is to ensure that the allocations stick," said one event-driven investor, who put in an order of shares, but did not want to be named.
Another complicating factor for Alibaba (Symbol : BABA
is that in addition to the 320 million shares being offered, there is an additional 128.4 million in shares - about 5 percent of overall outstanding shares - that are not subject to lock-up agreements that restrict insider sales shortly after an IPO, according to company filings.
That's unusual, and could add some additional selling pressure and increases the incentive for the company to make sure the long-term holders intend to keep their allocation.
I was invited to particitpate in the IPO...weither it fills or not is based on the number of shares my Brokerage company receives.
$68 or not at alll.
I put in an order for the BABA IPO at the $68 price. I doubt it will get filled with my Brokerage account since they were given a limited amount of shares for the IPO.
Does anyone else belive this could be a disappointment due to the fact the original investors have no lock up period and will dump tomorrow? I am thinking abut canceling my confirmation.
I sold 1/2 my position and won't be buying the shares back until Ron and company give some presentations and the analysts get on board.
The stock market in eis dicey right now between geo-polical concerns and the Fed. ..not a great time to buy anything. I have raised cash.
I hope so, but this might be too little too late. There has been alot of damage done as far as PPS and negative articles from places like Barron's, NYT etc.
I have been kicking myself for being greedy and not selling at the $17-18 range...I'm sure I'm not alone..
Sentiment: Strong Buy
You can read this on Seeking Alpha...Yahoo doesn not let you post this.
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Keryx Biopharmaceuticals' (KERX) CEO Ron Bentsur Discusses the approval of Ferric Citrate (Transcript)
Sep. 8, 2014 1:18 PM ET | About: Keryx Biopharmaceuticals, Inc. (KERX)
Yes. I was not happy to see this. I am not the only biotech investor that gets their weekly updates. Not a positive article.
I am hoping for the best on Monday.
I have a very low cost basis since i bought 5 years ago but the sell off was not fun to watch.
The U.S. FDA approved Keryx Biopharmaceuticals’ (KERX) phosphate binder, ferric citrate, at mid-day on Friday. A widely expected outcome, KERX closed the day down 5%, at $17.00, after a tumultous afternoon in which the stock dipped as low as $14.80.
PropThink readers who followed our lead in the last two years and purchased KERX have watched the stock appreciate by more than 500% as ferric citrate approached this final hurdle, now approved as a treatment for hyperphosphatemia in chronic kidney disease (CKD) patients on dialysis.
This Wednesday we suggested selling the stock at $18.00, a 550% gain since we first picked up the downtrodden equity late in 2012, before ferric citrate's first phase 3 readout. Keryx won’t have an easy task selling ferric citrate in a landscape of generics and similar products, a landscape that has changed meaningfully in the last few years – now, it's all about execution. Additionally, we suspected the approval announcement would be a sell-the-news event (sure enough), and outlined a seperate, short-term trade specifically designed to take advantage of this phenomenon. Given uncertain commercialization prospects for the oral phosphate binder in obtaining meaningful market share, due to newer managed care and competitive risks, our view is that investors should look to lock in profits - it's been a great ride. Read “Booking Gains on Keryx and What to Look for Next.”
Keryx Biopharmaceuticals, Inc. has added a new event to its Investor Relations calendar.
Title: Keryx Biopharmaceuticals, Inc. Conference Call
Date of Event: 5-Sep-2014 12:00 Noon ET
To view the calendar of events please click here
ow Keryx is awaiting news from the FDA, which has set a Sept. 7 decision deadline on whether to approve Zerenex for hyperphosphatemia. The agency is widely expected to give Keryx's drug the green light, setting the stage for a near-term launch and a chance to compete in the $2.4 billion market for phosphate-binding t
However, Zerenex's commercial potential has long been the subject of debate among analysts and investors. The drug's market entry may well be blunted by soon-to-launch generics of Sanofi's ($SNY) Renvela and Shire's ($SHPG) Fosrenol, two phosphate-lowering therapies indicated for dialysis patients.
Playing a bit of offense, Keryx is taking pains to talk up Zerenex's secondary benefits in serum iron and ferritin, calling its drug a differentiated product in a crowded field. If approved, the treatment would be the only phosphate binder that boosts the body's stores of iron and decreases the need for additional treatments, the company said.
Furthermore, Keryx is working through trials on patients with iron-deficiency anemia, hoping to secure a wider indication for the drug once it hits the market.
- read the release
- get the journal article
Keryx jumps as kidney drug impresses in PhII, promises wider label
Report on potential NCE threat for Keryx crimps big stock gain
Keryx shares soar on upbeat PhIII results for CKD drug Zerenex