All Australian index isn't really followed that much - certainly not in comparison to the ASX200 and the ASX300 - or even the small ords. Canaccord cut their price target from 1.25 to 0.95 on the back of the FDA briefing information.
Extract:
It also worth remembering that of the 6 brokers of which I'm aware that cover it, the recommendations are:
Column 1 Column 2 Column 3 Column 4 1 Firm Recommendation Tgt Px Date 2 Canaccord Genuity Corp sell 0.95 09/05/14 3 Bell Potter buy 2.26 08/29/14 4 Macquarie underperform 0.65 08/25/14 5 BBY Limited underperform 0.79 08/22/14 6 Wilson HTM Investment Group sell 1.06 08/22/14 7 Morgans Financial Limited reduce 1.22 08/21/14
In other words, apart from that the MIGHTY house of Chas Aitken, there is no target price anywhere near here.
It has previously doubled on the back of a short squeeze, but even given that down 20% does seems a lot for one day, especially when the FDA briefing came out yesterday....
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