It's a losers game...for a few pennies, assuming they profit, it gets eaten up with commissions and short term cap gains. Day traders eventually get washed out
Also, they've done a good job of locking up suppliers....no so with potential and existing competitors (indirect)and generics. With the marketing, financial and political muscle of a bigger acquirer, AMRN is an asset that has a tremendous amount of value...and is far from being recognized with current PPS.
GLX certainly seems to know their way around the FDA. The FDA has just done a U turn from it's position three years ago and removed restrictions on GLX's diabetes drug Avandia, saying the reversal reflects
"Our current scientific knowledge about the risks and benefits of this drug". We won't get into fact GLX acknowledged they lied (Oops, I mean "inadvertent omission") about the safety data initially. But somehow all of a sudden GLX produced (fabricated?) new data. FDA still acknowledges even now they have "concerns" about efficacy and safety. (Source: Todays WSJ Poor Amarin. Vascepa. is safe and effective, Amrn doesn't manipulate data, plays by FDA rules etc.
I agree. Unlike a few months ago, most investors who now own shares know what the deal is with AMRN & FDA. They can deal with and see through all these gyrations in dealing with FDA....those who own stock now know this temporary angst is the price to be able to get these shares at an insanely low price, for an asset that
will see its true value (much higher) very shortly
You're not paying attention. MM's have been bringing it down for a long time...now they have their shares and will bring this up big time... especially into year end.
Of Sofinnova Partners and AMRN board member just bought 40,000 shares, according to SEC filing tonight.
At this pps, management and board members couldjust buyout the company and take it private.
With the 25% move up today, this will appear on the radar screens for a lot of momentum players (who may never of heard of (Amarin) who will add fuel to the fire stating tomorrow (even afterhours tonight)
WSJ today has good article on insider buys/sells, when they have a window, as best predictor of pps. In fact, they cite mainly the example of another biotech ce. In our case, Joe Z was selling over a year ago as the pps was trading in the irrational exuberance level. A good sign now is that he's reversed and is buying in the open market during the window he has before FDA decisions next month. To all the bashers who slam Joe Z for profit taking etc, maybe now you should "follow the money".
he must be a Pats fan...as last call to end the game was Pats didn't get a completion in the end zone for a win. Carolina beats 'em. Pats got a lot of calls in their favor in the 4th quarter to put them in a position to win.
I agree. In his position buying 500,000 shares would have been more convincing....but nonetheless a good start here and sends a good signal. Looks like bought on open market so not just exercising options, etc.