I've been buying today. I believe yesterday's news validates TRGA's emphasis on working with genes to produce value-added research. i've been buying today in the low 8's to replace shares i sold around 14. the following doesn't mention TRGA (probably too small yet) but makes the same point with more clout.
Robertson Stephens Issues Positive Report on Genomics Industry
SAN FRANCISCO--(BUSINESS WIRE)--March 15, 2000--
-Analyst Upgrades Genomics Stocks to Strong Buy Ratings-
Robertson Stephens Senior Biotechnology Analyst Michael G. King today issued a report on the genomics industry and upgraded several genomics stocks, following comments made Tuesday by President Clinton and British Prime Minister Tony Blair.
Yesterday's joint statement by Clinton and Blair declared that raw data on the human genome, including the human genome sequence and its variations, should be made "freely available to scientists everywhere." The biotech market reacted negatively to these comments, resulting in a sharp sell-off in genomics stocks.
"In our view, the sell-off in the group was an overreaction," said King. "Concerns were raised that biotechnology companies would lose intellectual property, but no changes in United States and European Patent Office patenting policies have been announced."
"In our view, yesterday's news does nothing to diminish our enthusiasm for the genomics sector, nor the transforming technology contained therein," said King. "We believe that genomics will continue to impact every aspect of the drug development process, from target identification through clinical development and post-approval monitoring."
"We believe that investors with an interest in healthcare must own positions in the leading genomics stocks," said King. "We are upgrading Affymetrix (NASDAQNM:AFFX), Axys Pharmaceuticals (NASDAQNM:AXPH), Gene Logic (NASDAQNM:GLGC), Genset (NASDAQNM:GENXY), and Millennium Pharmaceuticals (NASDAQNM:MLNM) to Strong Buy ratings." |
