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Forum - Stocks For A Different Jungle    If it belongs at the Pit it doesn't belong here.

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From: blacksheep (Rep: 307)Date: 06/02/2017 07:14
Forum: Stocks For A Different Jungle - Msg #19108Thread #673930646 (Rec: 0)
Significant Insider buying.

One biotechnology player that insiders are snapping up a huge amount of stock in is Bioverativ (BIVV) , which focuses on the research, discovery, development, and commercialization of therapies for the treatment of hemophilia and other blood disorders.

Bioverativ has a market cap of $5.8 billion. This stock trades at a reasonable valuation, with a forward price-to-earnings of 16.8. Its estimated growth rate for this year 27.8%, and for next year it's pegged at 17%. This is a cash-rich company, since its total cash position is $358.70 million and its total debt is zero.

A director just bought 920,000 shares, or $51.30 million worth of stock, at $54.16 to $57.21 per share.

If you're bullish on Bioverativ, then I would look for long-biased trades as long as this stock is trending above key support at $51.06 and then once it breaks out above resistance at $57.83 to its all-time high of $59.50 with volume near or above its three-month average of 1.37 million shares. Some possible upside targets off that breakout are $65 to $70, or even $75 a share.

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