Looks like it is starting to edge higher again to me? Maybe a stock tip for 2018 might be just around the corner?
Bought another 10 shares today at ~ $175. Will gradually buy in more if it keeps going down significantly. It's down a good 20% now from its recent all time high.
If the company can deliver through the recent collaboration there is no reason to suggest the shares dont look anything but good value for the future. The spike has obviously attracted a lot of profit takers and possible shorters who think the shares moved too far too quickly. Once they have been worked through the system we should begin to move back to more fundamental based share price movements. Certainly one to watch
I think it could hit $300 eventually. Whether it can do it or not within a year or so IDK. Keep in mind that these biotechs can often go down a fair amount from a recent high before they shoot back up again. They can also tank on occasion on negative news.
I may add more shares if it appears to start gaining momentum for whatever reason - if it starts moving up a few percentage points here and there on heavy volume over days or weeks, perhaps in anticipation of upcoming events, or due to big boys buying in or whatever. What I DON'T do is buy in when such a stock shoots up big overnight on drug news or whatever like we saw last month - I don't buy at $225 when it was $175 the day before... That's when you want to take profits if you already own it, or else wait for it to hopefully come back down some before you buy if you didn't already own it ahead of the news... Chances are that it won't keep going up much short term right after that big jump up overnight from $175 to $225 - it will probably stall and eventually come back down - which it has...
I like to start with the company's website, SEC filings, my discount broker's research tools, etc. Biotechs in general are highly speculative. Drug trials, FDA approvals, and a bit of M&A here and there are what drive them. I mostly like to buy them in small amounts when they fall, then wait patiently for (hopefully good) news that will hopefully eventually drive them up dramatically in the short term - then I can hopefully take some or all of it off the table at a nice profit.
