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.
More bio on Mr Powell, he was at:
Collagenex Pharma 09/04-06/08 sale announced 2/08
Imclone 07/08-01/09 sale announced 10/08
Cornerstone 11/09-08/13 sale announced 09/13
Intermune 09/13-05/15 sale announced 08/14
I like to read between the lines."He succeeds Jennifer Rhodes, who remains a member of the company's legal team". So they suddenly need more legal assistance? Why? Perhaps there have been some companies window shopping and they wanted an experienced deal maker to assist. Or they want to send out feelers to see if there is interest, if it's not on favorable terms they have only lost the price of his salary. And lastly maybe they are looking to make an acquisition of their own? The press release went way out of its way to mention his many accomplishments. Not very subtle in my mind.
Interesting Bio on this fellow. Seems he had similar positions at InterMune, ImClone Systems and Cornerstone Therapeutics and helped guide their ensuing takeover/sale.
Whoever posted the .01 could have caused the average earnings estimates to plummet. Given the wide spread it would be interesting to see what the estimates would be without the outlandishly high and outrageously low. It is clear there is no consensus. Without a whole lot of effort my guess will be (clearly most of the analyst are just guessing) 0.41.
Earning estimates run from .01 to .75, thats quite a gap. You would think they would have the script data and could narrow it down a little tighter than that. Astellas saw fit to put out a press release three weeks after the quarter/year was over and three weeks prior to officially reporting to announce sales exceeded previous forecasts. They specifically mentioned Xtandi as one of two drugs driving their growth. I would put a whole lot more faith in that then the clown claiming .01 earnings.
It's very curious that dwindling storage was all we were hearing about and than all of a sudden no news on this topic. I don't believe the over supply problem corrected itself overnight, perhaps the storage issue was overblown?
Interesting to note that the analyst have been steadily revising downward the earnings forecast for MDVN for the past and future.
Astellas revised/increased sales estimates for the fiscal year ended March 31 2015 and in part had this to say
"Sales are expected to increase from the previous year due to global expansion of XTANDI for the treatment of prostate cancer and overactive bladder (OAB) treatments Vesicare and Betanis/ Myrbetriq/BETMIGA."
His reply makes me believe he thought the insiders had once held 100% of the stock and since they only hold 1% now must have sold the other 99%? Anyway thats enough time spent on that nonsense.
You said insiders sold out 99% on low 100's and that is false which is why I called you a liar. You obviously have no clue what your talking about nor do you have any knowledge as to this companys structure.