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Biotech / Medical : Agouron Pharmaceuticals (AGPH) -- Ignore unavailable to you. Want to Upgrade?

To: Biomaven who wrote (3009)	11/26/1997 11:22:00 AM
From: sam	Respond to of 6136

First, I agree with your claim that some or even many shorts may simply be a hedge. Still they must cover at some point. Second, I have also heard the claims that shorts are better informed investors. I don't buy it. Speaking from someone who is often on the short side (although never w/r/t AGPH) shorts and longs both play the same game with the same info. There is always someone with more capital betting the other way. So be it. Third, like you, I don't like people badmouthing my long positions. But its part of the game. Happens in every stock I have ever held a position, long or short. Probably every stock listed. Fourth, I am not suggesting that we will see a short squeeze here. To the contrary. But I do believe a large short position may privide some artificial support for a stock in times of weakness. And fifth, and most importantly, w/r/t a company that I feel is not deteriorating fundamentally, or is actually getting stronger, at some point the shorts will give up. At least they should. IMHO, fundamentals will eventually win over hype, manipulation and unwarrented denigration. Perhaps this is just youthful naivity. But I hope not. All this said, I may be totally wrong here.

To: Biomaven who wrote (3009)	11/26/1997 11:12:00 PM
From: JOHN W.	Read Replies (2) \| Respond to of 6136

< I fear the street will never give those earnings a substantial PE ratio, because of concerns (justified or not) about the longevity of Viracept. > I disagree, except for crossen (Nations Banc-montgomery), the street has stood by the company about the,longevity question and has given them a substantial PE.By the way, Nations Banc still has a significant position on AGPH. Before Viracept was approved, there were 2 concerns; first- this little company could not penetrate a mkt dominated by the big pharmaceutical companies like MRK, ABT, especially when they were going to market and sale the product themselves. The second "concern" was the longevity. The first lie has been settled, the longevity lie is clear in my mind,t it is settled. There will be at most 5-6 PIs on the mkt over the next 5-7 yrs, with 3 now, 4 if you can count saq, and VX-478 hopefully in the next 18 months. P.S. VX-478 results were very disappointing IMHO. 1-2 more PIs (maybe in this time) that will take mkt share from first generatin PIs. The liars would have you believe there are 40 new PIs on the mkt in the next 12 months, sorry the facts don't support.