Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 52.07

-0.2%

12:36 PM EST

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To: A.J. Mullen who wrote (752)	3/4/2000 12:50:00 PM
From: scaram(o)uche	Read Replies (2) of 52153

>> I wonder if it is time to reverse the valuation process. << HGSI has a market cap of $10 billion. Price:book is 54. Revenues are decreasing while losses and expenses are increasing. Price:sales is about 410. Merck has a market cap of $134 billion. Price:book is 10.8. Price:sales is 4.4. The valuation process has already been reversed. Biotech currencies are strong, strong, strong. Newbies are flocking into the sector, looking for stocks that have done 10-20X to do another 10X. Our old mantra, during the dry days, was that the entirety of biotech could fit into the market cap of Merck. Let MLNM and HGSI do another 10X, and they would be much "larger" than pre-take out Warner Lambert. And, yet, there are still screaming bargains in the sector. Go figure.

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