The last few times they had a really good report they halted the stock....this time they didn't, so I'm concerned....Also, technically it looks like it will retest around $100.....
They usually halt the stock when the numbers are really good, and they haven't done that, so I'm concerned. Also, technically it looks like the stock will retest at least $100....
and it should take tech down with it....However the cheerleaders are still at it on CNBC.....
the drug will be prescribed and sold starting in January 2016.....Undervalued? Let's see, the average analyst price target for RLYP is $50....you tell me....
Relypsa's new FDA approved drug has opened up a billon dollar first mover advantage opportunity for this company. Right now RLYP is the most mispriced biotech in our coverage. (Average price targets are about $50-$60 for several analysts).
But he's probably indemnified by others, I wouldn't be surprised.
You're still at it...."I want you to press your short position"....right now the shares are hard to borrow, which means they charge a hefty fee to borrow the shares, and the trade might not go your way....Not a good gamble at all. I sold my long position Friday, I'll be watching the action from the sidelines tomorrow.
It looks like traders are trying to weigh their decisions ahead of Monday's conference call, which will probably be market moving one way or another. If it breaks higher from here in the next hour and a half, I think you'll see a major short squeeze up to $126-$130. If it continues to trade in this small range, then it closes the weekend with indecision.
The dichotomy you bring up is very important...drug administration and management vs. adverse side effects.....It was a huge market overreaction, plus the MS cheerleader pumping the competitor drug which hasn't even been FDA approved yet all contributed to the stock weakness....thanks for bringing that point up.
Additionally the analyst said, cash flow does have a positive relationship with VRX's earnings and revenue. So this is a strong endorsement of the fundamentals.
The BMO analyst, who gave the downgrade yesterday (the only analyst with a downgrade), tempered his opinion today by saying the stock is extremely cheap, and the bull thesis is intact, and there's absolutely no evidence of fraud at any level. "We're looking forward to the conference call on Monday."
I refrain from contacting public companies about their stock, because I know that by law they're not permitted to comment on their stock. Traders should not have a myopic view of the market, and be able to withstand the day to day fluctuations.
Glenn do you follow Level II? It looks like someone is trying to hold the price down at $13...but from my experience, a lot of these quotes are fake, so that will probably disappear.
The reality is Morgan Stanley was short this stock, and I think they used the past two sessions to cover. This FDA approval completely surprised the street, and I think MS thought the stock would drop regardless. Now I think the stock will go up rather quickly, and may be over $20 within a week or two. There's some overhead resistance, but that will be taken out, as this story is much better than people thought. You have two analysts out with notes and an average price target of $65....Think about that reality.
Honestly? I couldn't care less. Just so you know, I'm a swing trader who went long VRX for the first time at $96.50 today. I'm already up big, and will probably sell into the move up tomorrow, before Monday's cc. It's called buy the rumor, sell the news. So you may in fact be correct, but it's all minutia at this point.