COB
Frank,please add COB to the model portfolio. Although the stock has doubled in the past few weeks, I think there's a lot more to come. The stock ran up on, I think, the rumor published by Fahnstock (so I'm told) that they will be adding a new distribution partner for one of their lead drugs, Crinone 8%.
I expect a lot of news out of the company over the next week, including an announcement of new financing, additions to management. Also there will likely be a licensing agreement announced for their andropause drug. Later in the quarter, there will, hopefully be a partnership agreement put in place to develop and market terbutaline, which potentially could be a large seller. And of course, there is always the possibility that an additional distribution will be announced for Crinone 8%.
COB's annual meeting is scheduled for this coming Thursday in NYC. I expect that the company will make at least one announcement before the meeting and probably one or more at the meeting itself.
The stock closed Friday at 5 7/16. My target for this year is 9. If things really fall into place, I think the stock could double from their by the end of next year.
Also I hope you added CSON at the time I wrote it up here. It was
~3 7/8 at the time. It's now trading around six.
I think this could very well be the year for biotech stocks. Major pharmas are pricey and I expect some of that money to flow out of them and into biotechs, especially since there will be a large number of new drugs approved this year, which should boost interest. |
