Wednesday, October 26, 2005

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

3 Comments:

Anonymous Anonymous said...

Nice call idiot!!! Yeah way to tell people to trust the analysts. Your blog title fits you well "Crazy."

4:28 PM  
Blogger crazytrader said...

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.

5:27 PM  
Blogger Jan Michael said...

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7:18 AM  

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