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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: margie who wrote (4067)4/16/1998 11:29:00 AM
From: Steve Fancy  Read Replies (1) of 6136
 
Margie (edited), I doubt this has much to with options expiration...I believe what you're seeing is extreme disappointment. The investment community had much higher hopes then the story AGPH seemed to paint. I would guess there is quickly building concern that R&D costs and competition might bury the company before they get other drugs solidly established in the market.

I'm disappointed...not in the numbers but the future story. It somehow seems less clear then last week. Any slip in Viracept marketshare may spell real bad news in the short term.

Looks like I may need to do something with my options positions...can't risk letting it get away from me again. It's looking to me like there was logic behind the relatively heavy insider sales. Not necessarily that they were trading on inside information or anything illegal, but instead on gut feel.

We're talking about a company that doesn't even know what countries their products are being sold in, sure we can blame Roche, but there's just no excuse for this IMO. I've got too much riding on this stock for a company that seems to have so much to learn from a business standpoint. I firmly believe you're seeing investors bailing, reducing positions, and an whole new wave of short selling.

Now it's not just Montgomery, we've got Morgan Stanly. Although it was just a downgrade to outperform, sure sounds like the beginnings of weasling out of their bullish strong buy rating. I don't even want to know what Ms Wang is saying right now.

sf
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