Rick,
Okay, I'll throw my support behind your valuations (+ a little). My PhD comes up with an even less scientific reasoning, the "Inverse Relationship to Hype Prinicple." This follows from the fact that AMGN has always tended to play down expectations, and one can hardly argue with their performance.
HGSI spends so much time telling the world how big they are it makes you wonder what they're trying to make up for. MLNM states the current news, points at the fence then says nothing until they deliver. INCY is also less brassy than HGSI. I probably give the short term value lead to INCY b/c they may cover more of the genome with priority filings than everyone else combined, while MLNM's business model is ultimately to be a Gx-based pharma/diagnostics co. and thus longer term (Make no mistake, IMO they want to be MRK).
Thus, 100,60,90 (INCY, HGSI, MLNM).
Excuse me for also plagiarizing your caveat:
...we get nowhere if all we do is take the fifth. Information exchange is what SI biotech thrives on. Perfectly willing to be very wrong. and add: in this market "it's not what the cos. worth, it's what somebody else is willing to pay for it next week."
biowa |
