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Biotech / Medical : Pharma News Only (pfe,mrk,wla, sgp, ahp, bmy, lly)
PFE 24.65+1.5%Oct 31 9:30 AM EST
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To: runningelk who wrote (1650)3/6/2000 11:55:00 AM
From: Valley Girl  Read Replies (1) of 1722
 
I also have AMGN though it's been a bit disappointing, also on a valuation basis it's kinda steep compared to other similar big-cap biotechs. I eschew stocks that have more hype than earnings, so in general that leaves me on the sidelines for biotech. However, I also own BGEN and MEDI, both of which have rather attractive-looking earnings forecasts relative to their prices (for MEDI don't look at the backward P/E, look at the earnings estimates for 2000 and 2001). My one old-line pharma, MRK, has really been beaten down in this market, now trading at 20x next year's earnings. Perhaps the market knows something I don't. To Zeren's question I believe the main reason the pharmas are down is election-year uncertainty over government involvement in prescription drugs. I'll take a look at BMY; looks like the legal system took a bite out of Taxoi.

Valuation computations, source for EPS data Zack's:

                    Fwd  EPS   EPS   5yr%  Fair  Analysts
Stock  Price   P/E  P/E  2000  2001  grow  P/E   Ratings
================================================================
MRK       57    23   21  2.78  3.07  12%    30   2.20 Buy
BMY       46    25   20  2.34  2.65  13%    31   2.00 Buy
AMGN      65   134   60  1.08  1.29  17%    37   1.92 Buy
BGEN     117    79   66  1.80  2.15  24%    50   2.00 Buy
MEDI     205   255  108  1.88  2.81  47%   117   1.27 Strong Buy
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