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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: nokomis who wrote (72090)11/17/1999 7:52:00 PM
From: kendall harmon  Read Replies (2) of 120523
 
DIGE--HC Wainwright comments today

H.C. Wainwright & Co., Inc. DIGE
R. Opel
DIGE: Initiating Coverage with a BUY Rating & $28 Target Price
Digene's RNA- and DNA-based Hybrid Capture System is the only FDA-approved and
commercially available assay for detection of the human papilloma virus (HPV),
which is increasingly being accepted as the fundamental cause of cervical
cancer.

* Digene intends to capitalize on its leadership position in HPV testing by
becoming the world leader in gene-based testing for women's cancers and other
infectious diseases including HIV, cytomegalovirus and hepatitis B.

* Digene has established a strong proprietary position with its Hybrid Capture
technology, with exclusive licenses and co-exclusive cross licenses to issued
and pending patents and with several U.S. patents and pending applications.

* We expect revenue growth of at least 40%-50% and EPS growth in excess of 50%
over the foreseeable future, as we believe Digene's total addressable market is
in the range of $2 billion-$5 billion.

* Digene has entered into strategic alliances with three much larger companies
in the diagnostics and biotechnology industries: Abbott Laboratories, PE
Biosystems and MedImmune Inc.

* Our target price of $28 is based on projected fully taxed EPS of $0.55 in 2002
and a current-year multiple of 50, which should reflect EPS growth in excess of
50% during this time.
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