I can be just as bearish as the next guy when it comes to SRPT (and I hate mindless pumping), but this move is not related to bad news coming. This move is indicative of two things:
1. Tax-loss selling. When someone like Soros sells a huge chunk of shares when the stock is already in a downtrend, that has a dramatic effect on the share price.
2. Current market downturn. SRPT always takes a big beating when the market struggles.
I'm always amazed when people assume the worst is coming when, in fact, the bottom is actually near. All bad news is very close to being baked in right here. Smart money is ignoring the noise. I'm buying, and I haven't accumulated in a looooong time. Even if the NDA submission is delayed again by a few months, 2015 is likely going to be a good year, assuming you believe eteplirsen works.
OMG! The sky is falling. Two months ago the stock was $30. Now it's only $84. Everyone should sell. It's definitely going back down to $30. Especially after Sickle Cell Disease data is awesome. Curing diseases is a scam.
Holy cow! They're raising stock after the share price has risen more than 100% in the past month. What a shame! They'll probably file for bankruptcy next week, right?
Given the huge need for a DMD drug, I'm guessing parents in these locations are already lined up, so patients will likely be tested in a quick manner. We also don't know the exact number of patients that have already been dosed. We know of a few, but it's entirely possible that we've already hit 12.
With 13 sites now recruiting, I'd say there's a good chance we'll hit 12 patients dosed by the end of the year, which means we'll have 24-week safety data by early Q3 2015. This should be enough to satisfy the FDA's guidance for a mid-year NDA submission.
SRPT has been in a sell-off ever since the delay. That fact prevented it from taking part in the market's upward rocket ship. At this point, negative news is almost, but not quite, baked in. If the stock hits $10, I'll be buying a boatload, and I imagine many others will too.
It's amazing when folks sell near the bottom. I actually intend on buying more SRPT after it drops a little further. This is a normal pullback, given the monstrous run the market had. SRPT is being hit harder because of tax-loss selling. The amount of catalysts lining up in 2015 make SRPT worth buying soon.
People need to learn how to control their emotions when investing. Unless you're playing weekly options, there's no reason to #$%$ your pants if the stock drops for a few days.
You're flat out wrong, and clearly haven't seen what large investors are willing to pay across the biotech sector. Look at TKMR, for example. They did a secondary near $30 several months ago, which is right at the 52-week high. Large investors were all over that, and TKMR's potential is nowhere near that of BLUE's. This is just one example. There are many, many more.
Fat chance the secondary is at $65. The company would have no problem getting $300 million at today's closing price of $83. Big boys would jump all over it. They know this is a $200+ stock by the end of 2015.
BMRN probably did go for SRPT but SRPT management probably had a much higher price tag than BMRN was willing to offer.
Meh. The chart is still hugely bullish. It's just a normal pullback. So long as QQQ holds up (and it might not), the stock should reach $38 before earnings, and $40 after. Short interest has dropped, and calls continue to be hot, even today.
And it was 4 patients out of 7. The other 3 patients only just started the treatment, so it is too early to say. However, the latter 2 patients of those cured took a couple of months before they were transfusion free.
You'd do better to go long than to short. Otherwise, you're going to get smoked.
We'll hit $100 before year's end.
The music might stop, but it will replay shortly thereafter. This stock is headed to $200 in 2015. Years away from a marketable drug doesn't matter much in biotech, if your pipeline is incredibly valuable. But I've been long since the mid $30s, so if it retraces from here, it's no skin off my back.