Celgene On The Right Path

In my article a few weeks back I noted that the only thing missing from Celgene's stock was a share buyback. A few days ago management announced a $1 billion repurchase plan, which amounts to about 4% of Celgene's outstanding stock. I would now be a buyer on a pullback for more than just a trade.

7 comments:

Anonymous said...

Some numbers for ya..

2/5/2010- 4/23/2010 12% gain before pullback.

8/31/2010- 11/5/2010 14% gain before pullback.

11/30/2010-today 13% gain ...pullback- imminent.

Anonymous said...

Some more numbers:

In 2004 a correction started on 3/5
In 2005 a correction started on 3/4
In 2007 a correction started on 2/16
In 2008 a correction started on 2/22
when the dow was 12,381 <-we are here again.
And of course 2/6/2009 it dropped almost 20%.

Are you ready?

Anonymous said...

I'm ready for a big mac attack

The Hook said...

What do you think about AMGN?

"Looks" cheap. But I have not done the work on the pipeline. Thanks

Market Owl said...

Someone agrees with you about biotech/pharma.

http://www.dailyspeculations.com/wordpress/?p=5953

Tsachy Mishal said...

Due to the recent rise in Gilead and decline in Amgen they are now roughly equal from a valuation standpoint.

However, Gilead is buying back their shares more aggressively. Also, there is an outside chance that one day Gilead Gets taken over. Amgen is quite a bit larger and the chances of a takeover are smaller.

At current levels I prefer Gilead for these reasons but I have been buying Amgen.

Tsachy Mishal said...

Thats funny. I have owned a bunch of those names in the past few months.