Agouron Pharmaceuticals (AGPH) Message Board

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Biotech / Medical : Agouron Pharmaceuticals (AGPH)

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To: Peter Singleton who wrote (4836)	7/10/1998 1:57:00 AM
From: George T. Santamaria	of 6136

Shorts may act according to rational evaluation or they just might be playing manipulative games. I believe that because AGPH's valuation stands in sharp contrast to a company like VRTX or any number of "promising" biotechs that the latter is true. What the shorts may be saying about valuation is only partly true and this partial truth provides cover for other agendas. With the way that PW, champion of AGPH, has stood by their $70/ share target for so long, I think that someone is truly out to make them look stupid and disenfranchise their clientele by forcing the share price down. Round about the time that the AGPH champion left PW, about March of last year, short interest shot up like mad, much faster than the share price. In fact, it continued shooting up after the share price started to level off. Can you believe that short interest should shoot by a factor up, by a factor of 10 or so, during the finest moment in a company's history? The chicken little longs are being taken out by this strategy but the patient longs can benefit mightily from this game. Someday soon, these huge short positions will have to be covered, probably when PW throws in the towel.

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