You can see a lot of this happening again today with Human Genome Sciences (partnered with Glaxo Smith Kline), who just released positive Phase III trial data this morning for a lupus treatment that will be the first new lupus drug in 50 years.
All of the analysts (with very few exceptions) were publicly predicting failure while the institutions they worked for were still accumulating the stock. It’s now tripled in value in pre-market and could even go up another multiple or two during today’s trading.