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Good post. Thank you. I really hope I don't sound like a BGEN basher; I actually like the company, and largely agree with you.
PLUS, let's not forget a couple of other minor details: BGEN has very little debt, is no start-up (approximately $8 billion market cap), has a P/E trailing of 52 (EBAY's is over 2500!), has over 1/2 billion in cash, a gross margin of 86% and a net margin of 25%. AND a pipeline of products, the value of which in comparison to other pipelines has been the subject of discussion here, but I don't think anybody would say the pipeline is worthless or anything close. There may be stronger pipelines in others' stables, but BGEN has a pretty good one also, and as you point out, with BGENs shift to using its own revenues instead of investor money to fund research and product development, this pipeline will likely get better and better.
All in all, a strong company getting stronger, I would think. And when you compare these numbers to those of similar companies, I don't think anybody could call you a fool for owning BGEN. Matter of fact, FWIW, I'm about to buy some myself.
But, it IS fun to kick things around a bit, eh?
:~) Walkingshadow |
