You are partly right. Amgen has outperformed the last 2 years.
Yet I think Amgen's run is done (mature products, mediocre pipeline,
huge market cap); while Immunex's run is just beginning (low market
cap, good pipeline, 110mm in guaranteed revenues,
more products on market than similar market cap biotechs, and
potential AHP buy out). By the way, check your stock tables
(ie, your 14 reference).
Immunex hit 19 the other day and closed friday at 18.5; all well
above its prior 52 week high (can you say BREAK OUT ABOVE RESISTANCE).
Also, DLJ recommends the stock as a buy with a short term target
of 25 and said that the stock could quadruple (from 15 at
that time). Also, there are rumors that their RA drug could bring more
broker recommendations in the near future.
One more question: How many other biotech stocks have broken their 52
week highs this month in this depressed biotech market? Get on board
or get outta the way ..... ain't no stoppin us now! |
