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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: tradermike_1999 who started this subject6/19/2003 1:28:13 PM
From: energyplay  Read Replies (1) of 74559
 
Pounding the table for Genetech (DNA) -

Adam Feuerstein
from thestreet.com
Genentech gets the bull-rush treatment from UBS
6/19/03 01:03 AM ET

I first reported this last night, in case you missed it ----

This morning, UBS biotech analyst Meirav Chovav will issue a 60-page report on Genentech (DNA-NYSE) and its cancer drug Avastin, in which she will make the case for the drug being a $10 BILLION market opportunity. Yes, $10 Billion!!

The title of the report is "Avastin -- How Big is Bigger?"

Chovav was one of the few sell-side analysts to call correctly the Avastin colon cancer trial. Since then, she's put a $100 price target on Genentech. She is the biggest of the Genentech bulls.

I haven't yet read the report, so I'm not sure how she's arriving at the $10B number – how many years out, how many cancer indications, competition, etc. -- but anyway you slice it, that's a big number. Pfizer sells only $8B of its cholesterol giant Lipitor. A $10B cancer drug? That's a head scratcher!

Biotech investors, long and short, have been arguing over Genentech's valuation since Avastin rocketed the stock into the $70s, so I guess this UBS report will be just another reason to put the gloves on.
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