Stockwatch: Premature evaluation
This article was originally published in Scrip
Executive Summary
The way the stock price of a life science company moves in response to an event can reveal a lot more than whether 'the market' thinks the event is good or bad news. Last week, for instance, stock movements implied that Human Genome Science might not be sold for as little as $13 per share, and that Vertex would have to work very hard to warrant the surge in its valuation that followed its announcement of positive data in cystic fibrosis.
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