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Biotech / Medical : Molecular Dynamics

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To: jpbrody who wrote (151)	7/24/1998 12:47:00 PM
From: dch	Read Replies (1) of 153

Friday July 24, 12:14 pm Eastern Time RESEARCH ALERT- Molecular Dynamics raised LOS ANGELES, July 24 (Reuters) - Hambrecht & Quist on Friday raised its rating on Molecular Dynamics to strong buy from buy. -- Molecular Dynamics reported better than expected second quarter results of $0.12 per share on revenues of $15.2 million, beating Wall Street estimates of $0.10 per share, and H&Q's estimate of $0.11 per share on revenues of $15.5 million. -- The company's MegaBACE and Microarray products showed strong sales in the quarter, accounting for about 35 percent of overall revenue in the second quarter, compared to 15 percent a year ago. -- The genetic analysis market is large and continues to show strong overall growth worldwide. Molecular is one of the few companies with products available today, and those are rapidly gaining acceptance. -- Molecular has among the lowest valuations in the genetic analysis field ($130 million) despite having among the highest revenue base, earnings and two outstanding near-term product opportunities in MegaBACE and its Microarray technology.

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