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Biotech / Medical : CEPH

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To: KurtVedder who wrote (64)3/14/1997 6:27:00 AM
From: harkenman   of 998
 
First Call predicts consensus earnings of $-2.82 for 1997 with 8 : 1 brokers revising earnings downwards!. I will publish a table with the latest earnings estimates as well as the buy:hold:sell ratings as compiled by First Call. I couldn't find the 11/8/96 Value LIne report you quote but the Special Situation report Value Line Section 3 09/20/96 report isn't as rosey as you may try to hype.

The latest Value Line Feb 7, 1997 report predicts earnings of -$1.5 for 1997 and gives it a 4 in safety. Is your report from an outdated issue superseded by the February report? Can you print it?

By the way the downturns for CEPH stock were all due to delays of filing the Myotrophin NDA and the negative reports published from the Phase III studies, a requirement by SEC regulations. Your long stategy is excellent by buying in the lows but this is a very risky stock. Regeneron was hovering in the $18 range and today it is in the less than $9.00 Category. I wish you luck but the odds are againts it. Even the 9 brokers who follow it have done downwards estimates in earnings!!!
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