STRP can easily double from these levels. Management will be holding a powerful CC soon. They own the spectrum, and if they confirm they are in discussions to sell some of it you are looking at at $25 stock in a blink.
DEFENDING CEMP here - STIFEL DESK shares are trading off approximately 30% despite reporting positive P3 data that we deem to be approvable in both the U.S. and Europe. There appear to be some investor concerns re: safety/tolerability (discussed below) – which we don’t expect to materially impact our view of the current market opportunity. We believe today’s weakness is unfounded and we’d look to be opportunistic here – particularly given more late-FY15/early-FY16 data flow and our unchanged thesis on what we still believe to be a $1B+ product.