Biogen

We took money off the table today in a bad tape with a good trade on Biogen

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Biogen spiked handsomely today and we took money off the table in a bad tape. We wrote on May 4th, that we were particularly excited about Biogen. Two insiders had bought material amounts of stock Biogen when the stock lost more than a quarter of its value during premarket trading Thursday morning after the company announced it would discontinue trials of its Alzheimer’s disease drug.   CEO Vounatsos increased his holdings by 21.6% purchasing 4,351 shares at $231.48.  Longtime board member and biotech guru hedge fund manager, Alexander Denner laid down a cool $27.2 million increasing his holdings by 22.1%. Anxiety … Read more

Notable Insider Buys and Sells Week Ending May 3, 2019 or Sell in May, Go Away

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  Several new buys this week signaled a return to animal spirits for a small group.  The majority of corporate America beat the drum beat, sell in May, Go Away. The market marched to a new high but not every stock participated. These buys represent value in an overvalued market, perhaps one long in the tooth.  We don’t aim to predict tops or bottoms but when insiders buy large amounts of their own company’s stock, they do it for one reason; to make money. We are highlighting notable buys over $200,000 as this represents something more than window dressing. Buys … Read more

Biogen is a Table Thumping Buy $BIIB

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            Several new buys this week signaled a return to animal spirits. We are particularly excited about Biogen. Biogen (BIIB) had a double whammy over the last two weeks. Two insiders bought material amounts of stock Biogen when the stock lost more than a quarter of its value during premarket trading Thursday morning after the company announced it would discontinue trials of its Alzheimer’s disease drug.   CEO Vounatsos increased his holdings by 21.6% purchasing 4,351 shares at $231.48.  Longtime board member and biotech guru hedge fund manager, Alexander Denner laid down a cool $27.2 million … Read more

Pullback in pharma has created a compelling buying opportunity

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The fundamentals are good for the health care sector in general.  Recent news articles on drug pricing/gouging are not likely to effect meaningful change for the overall group dynamics in my opinion or that any changes may be long time in coming and tempered far below market expectations. It’s true that it may compress multiple prices for a while as Evercore #1 ranked biotech analyst Mark Schoenebaum said on CNBC today but I agree with him, its really about innovation.  His favorite picks are Gilead GILD and maintains a price target of $115 on the stock.  I am not as enthusiastic … Read more