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Biotech / Medical : Collagen Corp.

CGEN 1.750

-1.1%

Nov 3 3:59 PM EST

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To: starpopper who wrote (2)	3/5/1997 10:49:00 AM
From: Rocketman	of 72

IMHO CGEN seems to have possibilities due to their holding 1.3 M shares of Target Therapeutics worth about $95-100 M. By my guestimates they are trading at or below book value. How many other profitable biotechs trade at book with a PE of 6-7 and pay a 1% yield to boot? So why the depressed stock price? I figure it's because nobody likes their management (I never have) which is marginal at best. Plus, they have a history of overhyping the company. If I was looking for a good acquisition target, CGEN is the type that has the assets that could be plundered to finance a deal, and nobody would miss the execs after the fact. Also, with the new breast implant, and other products in the pipeline they have some improved revenue potential. The other interesting thing about CGEN is that they have been effective at incubating other biotechs that they either spin off ie.) Target T. or that they reassimilate ie.) LipoMatrix (breast implant). I'd just never want to work for these guys - no fun.

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