Nice call.
Cytyc, Digene rebound; analysts weigh in
--2:26pm - By Michael Baron
Cytyc (CYTC) is rallying $1.48, or 13 percent, to $12.95, while Digene (DIGE) is getting a bounce of $1.68, or 9.7 percent, to $19.06, in afternoon action. Both stocks plummeted Thursday after Roche acquired a patent portfolio that will allow it develop commercial screening kits for human papillomavirus, raising competitive concerns for Cytyc and Digene. Buckingham analyst Jeff Hoffman is out with a note saying he thinks the selling is overdone and that Cytyc represents an excellent value at these levels. In addition, Roche's entry into the market should ease approval of the merger of Cytyc and Digene, Hoffman thinks. At Robertson Stephens, analyst Wade King reiterated a "buy" rating on Cytyc, saying the drop represents a "compelling investment opportunity." |
