Another interesting company which the Bakers have a large position in, which also has an important catalyst coming up in Q1 (a tentative advisory panel meeting in March (10th - 11th) to review an sNDA for Relistor expanded usage in OIC (opioid induced constipation - chronic pain) is Progenics (PGNX). Progenics engages in the research and development of biotechnology product candidates in the areas of oncology and therapeutics.
We have followed the Baker's lead with Progenics as we believe the stock could double or more in 2014. The company has several interesting products in development and good company structure.
Additionally Progenics also is expecting to announce data from its Phase II PSMA ADC trial at the American Society of Clinical Oncology meeting in January 2014. The Bakers like to buy biotechs with near-term catalysts, and they have experienced great success, earning themselves and their client’s huge returns in a short period of time. With a near-term major catalyst coming for Progenics, the company certainly fits the Baker Brother’s bill.
The Bakers own a little over 4M shares of the Progenics, and we believe their position in this one will eventually pay off very well.
RIG currently holds a Zacks Rank #2 (Buy), implying that it is expected to outperform the broader U.S. equity market over the next one to three months.
wrldtrd911 is a liar.
RIG's debt/equity ratio is 1.95 . "The debt/equity ratio also depends on the industry in which the company operates. For example, capital-intensive industries such as auto manufacturing tend to have a debt/equity ratio above 2, while personal computer companies have a debt/equity of under 0.5."