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Biotech / Medical : Elan Corporation, plc (ELN)
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To: fred hayes who wrote (6023)11/20/2004 2:52:22 PM
From: scaram(o)uche  Read Replies (1) of 10345
 
>> but it sure looks like the perception of a more limited market drove the downturn <<

Yup. But....

(1) "perception" will rule for a day or ninety until reality kicks in. Not saying that the current capitalization is justified, that reality will turn the stock. But the news was all good;

(2) 9% isn't much of a haircut... this is biotech; and

(3) "perception" could not have been framed more clearly/accurately by the DNA/OSIP. It's not their fault **if** investors pushed beyond the frame.

We have a new weapon in the battle against cancer. Let's rejoice, and let product sales take the stocks where they may. DNA trades at a P/E of 75...... biotechs are leveraged to an extreme, and a little fear mongering goes a long way.
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