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To: debra vogt who wrote (91714)	4/5/2000 11:36:00 AM
From: debra vogt	Respond to of 120523

RESEARCH ALERT-Visible Genetics started at strong buy NEW YORK, April 5 (Reuters) - Warburg Dillon Read analyst Geoffrey Harris said Wednesday he had initiated coverage of genomics company Visible Genetics Inc. (NASDAQ: VGIN) with a strong buy rating and a 12-month price target of $89 per share. -- Shares of Visible Genetics surged 6-3/8 to 39. -- The company develops, makes and sells an integrated DNA sequencing system, known as the OpenGene system, designed to help doctors identify mutations in the genes of viruses and tumors that may result in drug resistance. -- Harris said the molecular testing market for genetic disease is projected to grow to over $2 billion by 2001; the company's primary focus is currently on the HIV drug resistance testing market, a market opportunity estimated at $300 million in annual revenues. -- said the company has developed kits for HLA typing (for matching donor and recipient in organ transplantation) and is working on the development of DNA tests for other diseases such as hepatitis B and hepatitis C. -- said projects revenues of $27.1 million in 2000, $80.6 million in 2001, and $114.7 million in 2002. -- said expects growth to be driven by development of new selective therapeutic options and increased demand for customized treatment. -- said on a micro level, revenue growth will be driven by increased market penetration of the HIV GeneKit in the clinical laboratories and by instrument placements in the research market.