I’ve been holding for 4 years from around the time of the Pfizer bid. If I remember correctly, they bid £55 and were rejected. It’s taken this long to get near that level. I will be out of it gets close to £55. Anyone thinks this will go higher?
I wouldn’t call a top on this one, sales and profits have been falling for the past few years and the share price keeps going up.
I’ve been in this one since the Astra days, 1st tranche at £8.50. Been a regular trader since then, I’ve noticed that the share price over reacts to studies which the city have heard of. If a trial goes well, the share prices shoots up and I sell, it usually drifts back. If there’s a negative result (Mystic) the price tanks, I buy and it usually recovers.
I have no idea what the share price should be, I keep expecting it to drop and it doesn’t. If Pfizer offered £55 they will have priced in a big premium to encourage the funds to accept. This means they thought the correct price was considerably lower than £55, yet here we are at £54.40
Sales and profits are due to go up either next year or the year after next. That’s probably when the price will start falling seeing as it’s gone up while profits are falling.
Good luck whichever way you go.
" I’ve been holding for 4 years from around the time of the Pfizer bid. "
Blimey, have four years really passed since the Pfizer bid? It seems like yesterday.