AMLN Earnings
As we all know, earnings announcement is today. Since I first covered this company in august, many positive things have occurred within Amylin Pharmaceuticals Inc. (AMLN). It has been upgraded by three firms and coverage was initiated by a fourth, we've seen a new addition to the board of directors, and most importantly, people have been buying the stock. Here is what one analyst wrote about their new drug Byetta that treats type 2 diabetes, "We continue to believe that Byetta will exceed Street expectations and upside to estimates could result in a second leg of stock appreciation near term." I will be surprised if they release anything other than good news after the bell today.
**update** AMLN hit the low end of the estimate and the stock is heading south in after hours trading... say no to drugs
posted by crazytrader at 1:26 PM
2 Comments:
Thanks for the comment.. you must be a first time reader.. If you had read anything I have written in the past, you would know that I hardly ever hold through earnings nor have I ever recommend for anyone to do so. In fact, I talk about those exact risks in a post last Tuesday. Furthermore, I first recommended this stock when it was at $32. Following my recommendation, you could have sold today for a nice 22% profit.. The only thing crazy about my picks is the crazy money you could have made.
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