Myogen's Myopic Fans

These days, Wall Street analysts love Myogen (MYOG Quote) a whole lot more than regular investors do.

Virtually every mainstream analyst who follows the company has kept recommending the stock straight through a 35% plunge in the shares. The stock, which peaked at $42.27 back in March, has started to reflect clear concerns about a company that has no breakthrough drugs on the market as insiders continue to sell their own shares.

To be sure, it looks nothing like the wonderful investment opportunity that C.E. Unterberg Towbin analyst Andrew Fein started pushing a few months ago. ...