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Biotech / Medical : Biotech Valuation

CRSP 55.26

+1.2%

Nov 11 3:59 PM EST

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To: Biomaven who wrote (2462)	1/5/2001 1:04:04 PM
From: Jim Oravetz	Read Replies (2) of 52153

Biotech Stocks Fall On Merrill Outlook For 2001 Dow Jones Newswires By Laura Elizabeth Pohl Of DOW JONES NEWSWIRES NEW YORK -- Biotech stocks took a pounding Friday after Merrill Lynch & Co. analyst Eric Hecht issued a cautious outlook for the sector for 2001. Though biotechs were profitable in 2000, many stocks were marked by excessive speculation and high volatility. Now Hecht is concerned that the volatility was a precursor to serious corrections. "Thus, we are currently cautious about our stocks despite being bullish on the fundamentals of the industry," Hecht wrote in a note. Hecht couldn't immediately be reched for comment. Jim

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