Sell ANI Pharma (NSDQ: ANIP) and AbbVie (NYSE: ABBV)
Sell ANI Pharmaceuticals (NSDQ: ANIP) and AbbVie (NYSE: ABBV).
I am concerned that the negative sentiment towards any drug-related stocks will continue to weigh on these names. While both ANI and AbbVie have drugs that could propel earnings significantly higher, fears of price caps will likely keep both stocks subdued for a while.
Those wishing to hold on for future upside can consider a stop-loss limit 5-10% below current prices. That will help you minimize future losses yet allow you to enjoy the upside if my read on the market is wrong. Despite being correct on the progress of ANI’s corticotropin drug and on the success of AbbVie’s Hep C drug, MAVYRET, both stocks are down since my original recommendation.