Unilife (UNIS -8.1%) trades lower out of the gate, giving back some of the gains the shares logged Tuesday on the heels of the Novartis deal.
TheStreetSweeper's Sonya Colberg is out today with the "Top 10 Reasons" to be bearish on the stock.
The full report is available here, but suffice it to say Colberg raises some familiar concerns. Here's an excerpt: "Investors shouldn't read into UNIS press releases that upcoming large revenue streams will necessarily occur. The PRs tend to list minimum volume purchases of UNIS syringes. These minimums are only to preserve exclusivity. No one is obligated to buy a certain volume." (emphasis in original)
Also out with a bearish take is SA contributor Kerrisdale Capital Management who says "vague supply agreements" are one factor that suggests a "75% overvaluation."
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