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Biotech / Medical : ChiRex (CHRX)
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To: Ridemhigher who wrote (55)7/11/1997 6:19:00 PM
From: Haseltine   of 130
 
Yes, IMHO CHRX has lots of room left to appreciate. The Glaxo deal will add $50-100MM/yr on the revenue line which should translate to $5-10MM/yr ($.50-1.00/share) on the bottom line. At a P/E multiple of 20, that means the deal is worth minimum an incremental $10/share (eventually) which means a $20 share price is in short term reach. Analsyts estimates of roughly $1.00 in '98 also argue for a $20 share price within the short term. If the Glaxo deal results in revenues at the high end of the range, we could be talking $30/share price some time next year. I am long and happy!
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