Alnylam: Rally On No News Leaves Room For Downside
Disclosure: I am short ALNY.
Since we wrote our first article on Alnylam (ALNY), the stock has risen 30%, making what was previously merely an overvalued stock now reach nosebleed levels. The main event that has transpired since that time was a secondary offering by JP Morgan and the company’s presentation at the JP Morgan Healthcare conference from January 7 to 11. Neither event seemed material to us, and the recent rise in the stock price seems unwarranted from a fundamental perspective…
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Astex Pharmaceuticals: Heading For New Highs On Strong Pipeline Momentum
Disclosure: I am long ASTX.
We believe that Astex Pharmaceuticals’ (ASTX) shares represent an excellent buying opportunity. Despite positive recent developments at Astex, the company has seemingly gotten lost in the shuffle, with shares slumping sharply – more than 35 percent – during the fall biotech correction. Since then, Astex has rebounded nicely. However, given that the company has reported significant positive developments in the interim, we would not be surprised to see the share price catch up with the excellent news flow, taking Astex to a new 52-week high above $3.50/share… Continue reading
When Compared To Isis, Alnylam’s Valuation Does Not Make Sense
Disclosure: I am short ALNY.
In our previous articles, available here and here, we discuss why we believe Alnylam Pharmaceuticals, Inc. (ALNY) is overvalued. The company’s pipeline is too thin to justify the current stock’s high valuation, and analysts’ optimism is greatly misplaced with respect to the company’s drug ALN-TTR02…
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Alnylam: Further Evidence That The Stock Is Overvalued
Disclosure: I am short ALNY.
As we documented in our first article about Alnylam (ALNY), the company’s pipeline is significantly weaker than many people, in particular the institutional analysts, seem to think. We doubt that we are alone in that assessment, since both the actions of the company’s management and insider shareholders would seem to indicate a significant lack of confidence in the company’s direction… Continue reading
Alnylam: No Approved Drugs, No Promising Candidates, No Justification For $1 Billion Valuation
Disclosure: I am short ALNY, BTX.
Alnylam Pharmaceuticals (ALNY) offers one of the most compelling short selling opportunities we have seen this year. The company has a nearly billion dollar market cap despite having no FDA-approved drugs, no Phase III candidates, and no significant recurring revenue streams. In addition, the company has suffered several significant setbacks, most notably when the company’s most developed pipeline candidate failed to meet expectations, along with the Tekmira (TKMR) patent litigation settlement….
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Oncolytics Sharply Overvalued Following REO 018 Trial Failure
Disclosure: I am short ONCY. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.
Investors apparently have not quite understood what was said recently in Oncolytics Biotech’s (ONCY) update on their Phase III trial of Reolysin (REO 018). The implications for the head and neck cancer program and how this will affect their company going forward are quite negative, and yet the market has only mildly punished Oncolytics for the greatly disappointing update. Once the market realizes the implications of REO 018′s delay, considerable downside should be expected in Oncolytics’ shares… Continue reading
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