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<blockquote data-quote="MuckFichigan" data-source="post: 964613"><p>It will slowly drift down until there is another drug in the pipeline for FDA review, an IB changing its recommendation, or until a few weeks before the next earnings. The price action in pharma especially bio pharma is driven by event risk, until then it is considered dead money by many hedge funds and they reallocate capital to other stocks and sectors to chase a return or where there are more actionable trading ideas. The king of investing/trading in pharmas/bio pharma is Stevie Cohen.</p></blockquote><p></p>
[QUOTE="MuckFichigan, post: 964613"] It will slowly drift down until there is another drug in the pipeline for FDA review, an IB changing its recommendation, or until a few weeks before the next earnings. The price action in pharma especially bio pharma is driven by event risk, until then it is considered dead money by many hedge funds and they reallocate capital to other stocks and sectors to chase a return or where there are more actionable trading ideas. The king of investing/trading in pharmas/bio pharma is Stevie Cohen. [/QUOTE]
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