$2 and $1 targets... Yucky wouldn't touch it with yours, page-401

Yes unfortunately poor RAC can't seem to take a trick at the moment. PNV and IMU have each added over an entire RAC in market capitalisation to their value in the last 4 trading days whilst we've gone backwards...

Not only has the market completely failed to appreciate recent positive news from RAC, it seems to have also forgotten that RAC is a biotech stock.

Assuming the market has it wrong, RAC must be reaching a point of relatively extreme undervaluation (compared to its peers) and due for a catch up on that basis alone. I don't like to consider the alternative though.