Jay Silverman, BancBostonRobertsonStephens and Meirav Chovav, Salomon Smith Barney were the 'talking heads:" both great biotech analysts.
The gist: This is the most productive period in biotech history.
Biotechs rallied in the fall, because they are cheaper than pharmas, and are now rallying because of better positioning. Most biotechs had upside surprise, unlike pharmas (not all, imo)
Think money will go out of pharmas, into biotechs. Both think biotech rally is for real, sustainable.
The fall is tradionally a strong time for biotechs.
Chovav says the key is to catch the companies early
(There you go, Richard)
They were asked by a guest if large pharmas are actually looking at biotechs? (duh)
Silverman answered -Clearly so, with agph and cnto, even Merck buying
a small company Sibia, shows the level of DD companies are doing.
So clearly they are shopping.
Silverman recommended Alkermes symbol alks-It hasn't participated with the rest, because it filed an NDA a little late for a new growth hormone, neutropin -depo ? and the Alza stake in alks was bought by Abbot.
He also likes Abgenix symbol abgx, the clear leader in monoclonal antibodies for the next generation.
Kernen congratulated Chovav SSB for a 7 bagger ?
She recommended idph at 23 late August last year; it is now 110 and she thinks there is quite a way to go.
Chovav likes Amgen for a big cap, expecting a major earnings acceleration.
She also likes Biocryst for a small cap. They raised their price target this morning on bcrx. They expect that phase II flu results will be presented at meeting in late September
ICOC ? |
