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Biotech / Medical : Elan Corporation, plc (ELN)
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To: gbh who wrote (714)11/24/1999 7:37:00 PM
From: Gary Korn  Read Replies (1) of 10345
 
Anyone have explanation for today's move? The stock just keeps moving higher on heavy volume.

Gary,

Perhaps there is impending Zonagren news. Regardless, you can only hold a value play down for so long. With a growth rate of some 25 percent, this stock just shouldn't be trading at 28. It is fairly valued at 40 at a minimum.

I just keep recalling what the CFO stated: "Revenues will be $2 billion or double the current number by 2003." Even without p.e. expansion, that makes for a $56 stock. Be patient.

Gary Korn
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