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Biotech / Medical : Agouron Pharmaceuticals (AGPH)
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To: Peter Singleton who wrote (5114)8/12/1998 11:12:00 AM
From: Steve Fancy  Read Replies (1) of 6136
 
Peter, respectfully, I follow foreign markets closely also, and have been involved with emerging country ADR's for over a year. Although this world mess is obviously responsible for a significant loss in general sentiment, I personally don't hang much of AGPH's weakness on this situation. Looking at a chart, the stock has been on a general downtrend for almost a year, and continues to set lower lows, and lower highs. Look at the problems so far today...can't even muster itself up over 24 with news. Hopefully it will, but not holding my breath. Unfortunately, the bottom line is a one drug company. Until there's reason to believe there is something viable on the short term horizon I doubt the stock will recover beyond 30. In the meantime, if Viracept shows signs of slipping, or they can AG3340 research, it'll likely take the stock down further...the shorts will make sure of it.

sf
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