Profit taking does not entail TWO hit pieces one hour apart ... timed to do the most damage. Over a million shares dumped at the opening bell to take out stops is NOT profit taking. It is meant to do damage and instill uncertainty and fear in those that bought shares yesterday, in particular. Profit taking would be letting the market absorb your shares in order to maximize profit. It looks nothing like what occurred this morning.
What is Cantor Fitzgerald's stake in seeing the share price go up? They LOWERED their price target based on the lawsuit and bad press. They appear to be more unbiased than the SA bloggers. They have no more credibility than you or I posting here. You pay SA to post ... anyone can do it. They are far from experts. Most are merely trades with skin in the game one way or the other!
This is bare knuckled boxing now!
Two analysts covering UNIS have both raised their price targets based on these latest agreements. If you are paid to cover a company, you should recognize when the environment has improved. So, do you listen to them or a self-proclaimed SHORT on Seeking Alpo?
As the euphoria from the Hikma announcement began to fade, resulting in UNIS shares plummeting by almost 7% on December 2nd, 2013, Unilife felt compelled to report an exploratory-stage supply agreement with Novartis.
"Felt compelled"? It is a material event and must be disclosed. As to the terms, I understood it to read that it just might be Novartis that did not want terms disclosed. Besides, as noted before, this is about partnerships and collaborations. If UNIS does not fit the needs of these companies, WHY are they doing business with them and not the competition? Successful businesses don't partner up with flunkies! Unless you're the U.S. gov't!!
"Me thinks thou doth protest too much"?
And, the "one-two punch" ... another Seeking Alpo article saying that UNIS is 75% over-valued. "Disclosure: I am short UNIS" ... yeah, no journalistic bias there. These guys get to post "articles" which are no more than a public venue to promote their position. Sadly, people follow their leads. Anybody who cannot see what this represents is either naïve or stupid. The shorts came out with guns ablazing today ... Frankly, I'd love to see them wake up to a BDX buy-out one morning! This is nearly criminal ...
to put out a hit piece or pump piece, depending on their agenda, on the heels of any positive movement in price. I don't trust them whichever way they are going ... pro or con. They are bloggers with nobody to answer to for their "opinions".
This is NOT about huge revenues from the Novartis deal, and yes, UNIS has a history of collaboration with Novartis, so technically, it's not NEW news. However, in the press release it was noted that Novartis is expected to extend this collaboration into 2024, if I remember correctly. AND, if (yes, years away), the new targeted drug moves on into later trials and approval, they expect to use UNIS for commercialization. This is all about building a house, brick by brick. I guess this journalist doesn't realize that the market often trades on what WILL be, not what IS or HAS been?
Cantor Fitzgerald just raised their price target by 30% from $6 to $8 based on recent developments. Are we to believe they are victims of "hype" and don't understand the potential for the new agreements? There are milestone payments and royalties, as well. Of course, it may cost UNIS margins or costs to get their foot in the door. That's the way things work ... just like we are now witnessing how Wall Street crooks work!!
When a stock jumps 20% in one day, on a spike, it is usually retail chasing news and jumpy shorts covering quickly. There will always be a pullback/churn on profit-taking and daytrading. The "tell" today on the strength was once it pulled back (while overall market was down substantially, I might add), there was very strong volume and consolidation from the $4.65 to $4.85 area. Volume always precedes price appreciation and we got volume in spades today. Should provide a nice buffer/support ... unless we attracted lots of new shorts today thinking they were too smart by half ... I like the risk/reward from here on out. The tide has turned. Mgmt is delivering the contracts they promised. My main concern is can they keep up on the manufacturing end? Admittedly newer to this stock, so welcome all of the old-timers observations. I was lucky that I took a flier on the recommendation of someone who has followed UNIS for some time and bought under $4. I added some in the $4.60s and $4.70s today, too. I bought RMTI when it was around $4 and the good news started coming in ... it made its way to $15 in fits and starts. UNIS reminds me of a similar situation. Not saying it will go to double digits any time soon, but the potential is there longer term. GLTA
Unilife has announced a string of deals recently. In September the company said it will supply prefilled syringes to French drugmaker Sanofi as part of a long-term contract. Unilife will receive up to $15 million in milestone payments along with royalties on sales of the syringes. The agreement could be extended until 2024.
In November the company said it had signed a supply contract with Hikma Pharmaceuticals that could be worth $40 million through 2015. Hikma will buy prefilled syringes with a range of generic injectable drugs.
THE ANALYSIS: Cantor Fitzgerald analyst Jeremy Feffer said he thinks the agreement with Novartis will extend to commercialization if the experimental drug gets approved, and the companies may expand their collaboration. He said the recent deals are building credibility for Unilife's management.
Feffer rates Unilife shares "Buy," and he raised his price target to $8 per share from $6.
Did my Master's thesis on Thomas Paine's role in the Revolutionary War!! Amazing philosopher!! I guess in his day he would have been categorized as a "community organizer"? lol
Lots of accumulation taking place this afternoon ... new buyers/retail/institutions? There will be some natural churn, but this is pretty impressive and putting a nice support in over our previous resistance. $4.50 should be some decent support going forward. Any TA people care to chime in?
Our immediate goal should be to close above $5. Big players in now trying to knock it down? Accumulate? I'm buying dips!! Mostly an observer here, in since $3.85. Some are selling the news, but this reminds me of when RMTI got started back in the $4s not too far back. Good news just keeps on coming!
I bet there was a leak of the news and that's why it went down hard at the open and stayed down most of the day. It's "cursed" because of the inside ownership and control. They kow-tow to nobody and the float is pretty tight. I suspect there is a pretty good contingent of naked shorts that like to walk it down hard on low volume when they can. Hate to sound like a pumper, but I do think they're trapped. MDXG seems to think they're in the driver's seat, I'm not so sure. Cash flow positive for any small cap biotech is no easy feat, and we just obtained that. They're cash strong, too, so I'm willing to let it play out. GLTY