Most of todays pop is because of the earnings. A split shows a company is confident in its price going forward. Most stocks do get a little boost from split announcements but in the long term I doubt they have much value. Before the advent of discount brokers it was expensive to buy odd lots (anything other than 100 share multiples) so companies splitting their stock made them more affordable to the public. Thats not the case anymore as you will typically pay the same commission on 1 share of a $1000 stock as you would for 100 shares of a $10 stock.
So who bought at 140? That kind of thinking is why you are a poor investor. Picking the all time high and than saying look how the stock is down. The stock is up 45% over the last 12 months even with its recent dip. The stock is up 1300% from when you likely first started bad mouthing it less than four years ago. Good luck to you and your investing prowess.
Good morning Keith
As always these are Astellas numbers and Durango gets tangled up with exchange rates and yen so take this with a grain of salt. I welcome others interpretations and calculations.
Looks like 307 million US sales. MDVN's share 153.5 million
ex US sales 183 million? MDVN gets mid to high teen percentage so perhaps 27 million
Total revenue approximately 180.5
estimates had averaged 154 million with a high of 182
Barclay actually includes some factual numbers with its release, specifically strong June sales following what had earlier been reported as weak sales in April and May. As I stated earlier I am suspicious of releases such as Cowen's that lacks any detail or support for its position.
When I see these huge changes in price forecasts without a detailed explanation I tend to laugh them off. Unfortunately the rest of the market acts on them. Guess we will see whats up within a week or so.
I was told on this board several months ago that this is an ETN and not a MLP thus there is no K-1 form. My shares are in a Roth so taxes are not my concern here but I assume the usual capital gains rule apply since its an ETN.
Their pps target are meaningless in my mind. Sometimes I will see their target at less than the current share price accompanied by a buy rating which makes no sense. Analysts earning estimates for the near term and longer term have been dropping in recent weeks which is more reflected in the current price. Whether these estimates are accurate or not remains to be seen. The companies guidance on the next earnings call will be closely watched.
I thought I smelled a rat when that ASCO "score" came out. This article spells out at least part of their ineptness. There is however still a concern with the leveling off of prescriptions. This earning call will be important, especially with whatever guidance they give.
Your delusions of shorting MDVN at its top are as outrageous as your claims that I have ever stated I have shorted DNDN. I have never shorted a stock or claimed to have, all though I may consider shorting any stock you recommend given your history. You need psychological help as well as a financial advisor.
You and I have been sparring for years. As you know my shares have been purchased from $8 to the mid 20's. Some shares sold for various reasons (portfolio rebalancing, tax strategy and college tuition) between the mid 50's to the mid 120's. If this goes to zero on Monday I will still have a huge profit. Still holding enough shares to buy the house you lost in foreclosure as well as your mothers house in whose basement you now undoubtedly reside.Your DNDN is down 99.9%. I win.
He bet on the wrong horse (DNDN) and is hanging around feeling sorry for himself. Given the fall of DNDN and rise of MDVN it may well be the worst investment decision of all time.
This bominreal clown was slamming this stock at $8 when I started buying and was hyping DNDN at the time. MDVN is up 1300% and DNDN is bankrupt. To believe he shorted this near its all time high is foolhardy. If he had been following his own advice he himself would be bankrupt.
Search for an article titled "Chemo may be preferred option for some with advanced prostate cancer". The timing of this small trial/news corresponds with the fall here. I have read it several times and am not sure its a negative. Anyone with more medical savy care to comment?
I haven't seen any insider sales posted lately but if true like you said that is nothing new and would not cause this week + long drain as it never has before.
When you reduce a five day work week to four days you have likely eliminated 20% of new prescriptions for the week. Add on the travel current users are doing and you likely saw refills also affected, some may have refilled the week earlier and others this week. This is pretty common stuff, especially for a prescription for this indication. Look back at every holiday week and you will see similar movement.
Keep in mind 99+% of this stock is held by institutions and insiders. Us small timers aren't likely to move the price one way or the other.
I've seen similar moves after good earnings. My personal guess is that some plan to sell after specific events regardless of price and regardless of the news. In this case the announcement of the breast cancer results. Historically, selling the news has been a bad long term play with this stock.