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Biotech / Medical : Biotech Short Candidates
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To: tuck who wrote (422)2/28/2003 1:05:47 AM
From: Spekulatius  Read Replies (2) of 897
 
Tuck, I agree that AMGN's valuation is comparable to MEDI's but this does not mean that MEDI is cheap. Indeed, I believe that AMGN is fairly expensive, however the stock has a good story and I don't think it would be a good short right now.
With respect to MEDI, it may be better to wait a little, the overall market is oversold and should recover and if MEDI's valuation becomes even richer then, it may be a very juicy short target.
With all the doom and gloom in biotech, it get's more and more difficult to find good short targets, IMO. Most crappy companies trade below 5$/share now anyways so they are not shortable any more in most brokerage accounts.
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