They lowered guidance 14% and the stock is down, 14%. What do you expect. I bought based on that idiot Navellier's rec to buy below 86, luckily I bought well under that but still lost a bunch today. That was horrible guidance.
Take the Piper view with a grain of salt, remember, they were the architect and beneficiary of the last stock secondary and want to maintain that relationship as ARNA will need another one. The pipe is strong but it takes bucks to move it forward and unfortunately, our worthless partner isn't helping with reduced ads and salespeople. That hook up was the worst we have done and the cause of why B hasn't moved. The other indications particularly smoking cessation is huge but E doesn't have the capital to move it, along with getting other countries to approve the drug. The hype has already fizzled and we've already given back all those gains. Bought this long ago pre-approval and wasn't expecting much and knew it was a multi-year story, just a tad irate about our lousy partner E and their lack of engagement.
Let me guess, after you shorted at the high of the day, great move, you covered today at 19.62 the low of the day right? I'm pretty good at picking stocks after the fact too.
Very astute analysis, you sound like a sharp investor who knows his stuff. Being that elite investor you are, why wait, short the stock here and/or buy in the money puts.
One part is not true, this was printed 4/13/15
Jefferies recommends buying the following 10 potential M&A targets:
1. Arena Pharmaceuticals, Inc.
2. Lexicon Pharmaceuticals, Inc.
3. Seattle Genetics, Inc.
4. Sangamo Biosciences, Inc.
5. DHT Holdings Inc
6. BioScrip Inc
7. OraSure Technologies, Inc.
8. Sonus Networks, Inc.
9. NuVasive, Inc.
10. Allscripts Healthcare Solutions Inc
The stock is down over 21% since 4/9. Based on all the other casino stocks expect another 5 - 10% decline tomorrow when they miss and they will miss. The positive is the same as the negative, the opening of the new casino. The positive is the open and at least the expected number of tables. The negative, the open with below or no gaming tables. Macau is going to shoot themselves in the foot with all their constraints, ie smoking bans, table allocations, reduced number of tourists. In a perverse way I hope they adopt everything and everyone stops going and the country plunges into a depression. Bottom line, don't buy here but wait till that decision is made. Keeping my shares as they are well under water but miracles do happen.
Only issue I heard was the length of the studies, not looking for anything until the earliest 2017 for possible approval. Cash on hand to cover +20 months and any milestone payments will extend that and there will be some.
Placed an order to buy at 5.50, watched it drop to 5.51 expecting to buy and it went up and never covered.