Mike,
That's a pretty respectable list, but sort of a mixed bag in terms of type of stock.
I'd characterize them like this:
SEPR, MLNM, INCY: key biotech holdings of the "buy them and forget where you put the certificates" variety. None of them are cheap, but I think they are all good long-term value.
CHIR - I think of them as a low-risk recovery play. Lots of cash and not enough discipline in the past, but the new CEO seems just what they need. Hard to know just what is going to drive the stock, but my hunch is something will turn up. I've owned a little since the mid-teens.
ALXN - I like their C5 program a lot, but am scared a little by their "regaining their rights" to their xenotransplant stuff, despite their positive spin. I owned some 'til quite recently, and might re-enter at some point.
AXPH - very cheap, but maybe destined to stay that way for now.
REGN - also very cheap, but some real possibilities for a breakout (like Axokine). Mine departed in year-end tax-loss selling, but I keep a close eye on them (via Miljenko), and could re-enter at any moment.
VRTX - also cheap, but I worry how their PI is going to do. Having an approved drug that doesn't do well is a downer for stock performance, no matter what the promise of the rest of their pipeline is. Never owned them personally, but they certainly bear watching.
ENZN - in my "should follow but don't" basket.
Peter |
