Analysts and Calls -- Sterling Research Message Board

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Biotech / Medical : Analysts and Calls -- Sterling Research

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To: Icebrg who started this subject	10/17/2002 11:39:42 AM
From: Icebrg	Read Replies (1) of 5

2002-10-17 10:49AM Human Genome initiated with Sell rating at Sterling, $2 price target (HGSI) 12.42 -1.22: As mentioned in the previous comment, HGSI has been a notable laggard this morning, likely due to a report from boutique firm Sterling Research which initiated coverage with a Sell/Short rating and a $2 price target; says co has a high-risk pipeline that has yet to bear fruit, a highly leveraged balance sheet, and an annual cash burn rate of $200-$300 mln; firm also thinks the co will have to raise additional funds in the near-term to meet cash needs and debt repayment.

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