Biotech Valuation Message Board

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Biotech / Medical : Biotech Valuation

CRSP 54.58

-1.0%

3:59 PM EST

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To: LLCF who wrote (122)	4/2/1999 9:39:00 AM
From: Dr. John M. de Castro	Read Replies (2) of 52153

Analysts recommendations as valuators. I just thought that I'd share with the thread a little research I did to find out if the analysts ratings were any indication of stock movement. I simply took the lists from YAHOO of the Biomedical/Gene and Medical Drugs sectors and correlated the analysts mean recommendation with the first quarters stock performances. The correlations were r = .02; .04 respectively. In other words there was no relationship whatsoever between the analysts recommendations and how the stock performed over the first quarter. This really didn't surprise me much. But, it was nice to get an empirical measure of my suspicions that analysts recommendations are next to useless. John de C

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