Biotech / medical device business PNV has demonstrated the sectors volatility perfectly over the last 18-months i.e. firstly rallying by over 200% before plunging by over 60% back to where is started, a typical few years for many biotech names. The recent surprise resignation of the companies MD doesn’t bode well for the near term future news flow and we feel its easy to leave this one alone for now i.e. friction at the board level rarely unfolds during good times!
MM is neutral PNV at best
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