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Senetek PLC Rated 'Strong Buy' by Wharton Capital Management
ST. LOUIS, Jan. 6 /PRNewswire/ -- Senetek PLC announced today that New York City-based Wharton Capital
Management Inc., has initiated coverage of Senetek with a "strong buy" rating on the company.
"Our price target for January 1998 is $10," said Wharton Capital Management analyst Rick Joshi. "We believe that Senetek is
grossly undervalued at current levels.
"Senetek has a profitable Cosmeticals business with substantial and rapidly growing sales," Joshi continued. "It has in the late
stages of development a novel biopharmaceutical for treating ED (Erectile Dysfunction) with a proprietary, advanced drug
delivery system that targets vast potential markets and which, we believe, has an excellent chance of being successful. Finally, it
has a number of other products with commercial potential that could produce a continuous stream of revenues further out.
"Our analyses and peer-group comparisons reveal that Senetek's technology valuation implicit in today's stock price may be
lower by several orders of magnitude," said Joshi. "Our discount models indicate that each of Senetek's businesses is worth
substantially more than Senetek's current market price.
"Given its new management team, unique technological position, superb growth characteristics and earnings potential, Senetek
PLC is an outstanding vehicle for investors with a short-term as well as a long-term view. We therefore strongly recommend
Senetek's stock at current levels," Joshi concluded. * |
