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Biotech / Medical : Genzyme Tissue Repair (GZTR)

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To: KLH who wrote (2463)1/15/1999 2:36:00 PM
From: Steven C. Vartan   of 2553
 
Credit Suisse First Boston has a buy with a $14 target price. They comment in a 10-26 report that management has kept operating expenses at year ago levels. PaineWebber has as a buy with a $8 target using a 35% discount from 2002 earnings of $0.82 with a 35 multiplier. PW also notes in a Jan report that the expenses for Diacrin are being reworkeds somehow but no details. It must be embarassing for someone other than us investors that mom and dad are up (genz) 79% while the kids are off 67% for tissue and 42% for transgenics. I must be a cynic but perhaps if management (which overlaps) bonuses were based on the kids and not General then we might be doing better.
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