Agouron Pharmaceuticals (AGPH) Message Board

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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: JOHN W. who wrote (932)	7/11/1997 3:04:00 AM
From: James Silverman	of 6136

John-There have been plenty of short squeezes in the past including those brothers that were so successful in the late 80's who basically got run out of business via institutions targetting their shorts. AGPH is a dangerous short because it is merely a valuation perception short raher than a knock on the company, their product or their pipeline-although some may disagree. I dont short at all, but to me the best shorts would logically be balance sheet shorts, with detectable inventory, receivable problems, or increasing competition shorts. The risk with a valuation short is that the value will keep getting more and more overvalued or perceived overvaluation. See VVUS that got to over 100X earnings and ran from the teens to $80 in short order with shorts all over it the whole way up and on the way down. Incidentally they just reported great earnings yesterday- look for shorts to continue to cover. No need to knock VRTX, they are a very fine company, with outstanding scientists, a very nice pipeline of prospects, solid partnerships etc. I wouldnt necessarily put AGPH's prospects at a greater level than VRTX. They are both fine companies.

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