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Healthcare has been under-performing since the election. The Senate flipped Republican.
If this is related to the mid-terms then I think this will be short-lived. Obama would veto any bill they send him.
That Harvoni TRX are still on track to meet expectations for the Q. Sovaldi needs to return to last week's level.
I rolled my Dec 20 options to Jan 17 and will add some more on Monday. I think this is a nice support level and bottom in the short term.
Looking at twitter I see people announcing that they are exiting short positions here.
Harvoni scripts beat the Citigroup Bull forecast of 2837 by 28 scripts.
Sovaldi scripts were light by 228
* Stock buybacks kick in
* Targeted acquisition
* Stock split
* ABBV approval for GT1b only without ribavirin (25% of the market). GILD maintains dominance.
* Harvoni + Sovaldi scripts break 7900 this week
* Technical reversal (I see this happening around $100)
* Approval in foreign markets (Japan)
* TRX miss 7900 this week
* ACHN acquired by ABBV
* Continued technical break-down
Please add to this list.
The expectation was 7,139 TRX (from a Citigroup analysis posted last week).
Sovaldi missed expectations for the week by 228 scripts.
Harvoni beat weekly expectations by 28 scripts.
The Sovaldi numbers were light, but this could just be a fluctuation in the data. I was more concerned about Harvoni. This still seems to be the fastest drug launch ever.
You see.... There is this thing called a consensus estimate for revenue. It's what they use on wall street to judge performance. If the company hits a certain number in sales volume, they will beat that estimate. That's a good thing. They could also miss the estimates. That's a bad thing.
I'll be adding more tomorrow, if they beat.
I think there may be an institution selling and then using a portion of the proceeds to buy calls. This way, they can limit their downside. And if Harvoni sales meet expectations, they will be back into the stock at $110.
I'm looking at the Apple price chart from May 2013 to now. They announced their bond issue in May 2013 to buy back stock. Two months later the stock had actually dropped to $56. (adjusted for the split)
Now, Apple is at $112.
These buybacks may take a while to drive the price.
This is about 36 million shares at $110 per share. I'm guessing it could take a couple of months to buy that many shares.