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Biotech / Medical : Covalent Group Inc (CVGR) an undiscovered CRO

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To: ForYourEyesOnly who wrote (51)5/15/1998 10:54:00 AM
From: Mr Bond   of 107
 
A lot has happened to the CRO sector since this report was put out. He quotes PPDI at 24.75 as good value. It sank to $16 not long after, and has risen to approx $24 as of yesterday, over a year later. IBAH, at $7.75 in his report, sank to $3.00 at one point, and only really rose when it announced a pending merger with OCR at $5.75.

Covalent's latest results look familiar. Check out PRWW, CRLS, CCLR. These guys are famous for making no money in a sector where it's difficult not to make money. I've been hearing the same excuses for a while from this group of CROs and all they do is head south.

One stock that got hammered and looks like it may be turning the corner is CCRO. Maybe there is hope for CVGR and the other guys yet???
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