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Biotech / Medical : Immunex
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To: synchro who wrote (300)2/3/1999 9:38:00 PM
From: Buckeye  Read Replies (1) of 656
 
Ouch . . . you raised some great points but today shows why the biotechs have never been able to put together a monster since AMGN in 1991 (and what a monster that was) . . . like it or not the momentum funds rule when you get outside the normal valuation parameters and to keep them in the game you must have estimates that go up, something that biotech hasn't seen since that marvelous run in 1991 . . . i guess with IMNX i was hoping to relive the AMGN glory days but it's not to be (at least not this qtr.) . . . it just kills me that biotech cos. have such a difficult time blowing out the #'s, the comment "Enbrel sales are off the charts" is followed by "due to increased spending on the rollout" . . . maybe the analysts always get too hyped and set their ests. too high, or mgmts. overhype new products to the analysts leading to overoptimistic projections . . . whatever it is one day there will be a biotech co. with a terrific product and the common sense to "talk the street down" a la Bill Gates so that i can relive 1991 one more time
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