BIIB is hurting me as well today. It seems to be an outright bear attack on the best biotech names. BIIB has a $400 price target and still getting slammed. It broke its 200 dma. At least GILD is still trading above its 200.
As soon as it opened it dumped big time. Seems $$ is going into Apple and techs today. rotation
It was a planned sale. Shouldn't be that big of a factor but perhaps the timing near technical levels and the debt offering combined did the trick.
Not sure. They priced the bonds so we got that out of the way. I still don't think competition is a threat.
Along with the bond deal we had a $14Mil stock option exercised. No wonder stock was down!
...So, what about that large stock sale from a key Gilead insider? John Milligan, Gilead’s president and chief operating officer, exercised stock options that generated a sale of some 146,895 shares. Before getting too skeptical or wondering if Milligan was hitting a “panic sell button,” keep in mind that this was a planned share sale under a 10b5-1 plan. Still, when officers take home well over $10 million in stock sales, it does tend to get noticed by the investment community.
Just found it! ...Biogen Idec Inc. (NASDAQ: BIIB) is a top stock to buy at Credit Suisse and it is way above analysts’ earnings estimates for the quarter. The firm, like many on Wall Street, predicts that Biogen’s Tysabri earnings will have a meaningful jump this quarter. Credit Suisse also expects the company to reiterate guidance for anti-LINGO data in acute optic neuritis in the second half of this year, which provides the highest level of potential upside to Biogen’s share price if the results are positive. The Credit Suisse target price for the biotech giant is $400.
Wow! $80 more upside!
There are a sheetzload of ETF's trading this basket of bio's. Makes it hard to determine the direction of any one stock sometimes. I'd liked it better back in the old days before all the etf's and weekly options games.
Do you follow BIIB at all? GILD was outperforming until recent when BIIB hooked up. I think it may have to do with the guidance call by BIIB. It too is very volatile but has seen a nice step up recently. I think some analysts gave it a big target price.
Brought down all media companies by his "internet should be open" statement. This too will pass. Consider it a buy opportunity in DIS which should have been up above $90 today.
Quite the contrary. The Republican party is considered more corporate friendly and will canvass for a more corporate friendly tax system. The Dems have become more socialistic with Obama at the reins!