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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: John McCarthy who wrote (1345)	7/25/2000 12:45:43 PM
From: Jim Oravetz	Read Replies (2) \| Respond to of 52153

The Best on the Street Analysts Survey: We rank the analysts who have distinguished themselves as among the very best in the business. (Special section in today WSJ) Biotechnology Stock Picking -- (of 31 analysts in group; median performance score 480.5) Name Honor Firm Performance Score Jay Silverman* 2 yr winner Robertson Stephens 1169.3 Franklin M. Berger 2 yr J.P. Morgan 939.8 Robert Toth Prudential Securities 889.1 Maykin Ho 5 yr Goldman Sachs 796.4 Carol Werther* Adams, Harkness & Hill 761.9 * Winner in more than one category The top five stock pickers in each industry, ranked on their recommendation-performance scores for 1999. Performance scores were calculated on the basis of the estimated performance, including price changes and dividends, of each eligible stock an analyst covered in an industry, with the results weighted according to the strength of each recommendation. For a stock rated a "1," or "strong buy," the return was multiplied by 2; for a stock rated a "2," or "buy," the return was multiplied by 1.5; for a stock rated a "3," or "hold," the return was multiplied by 0; for a stock rated a "4," or "sell" the return was multiplied by -0.5; for a stock rated a "5," or "strong sell," the return was multiplied by -1. The firm listed for each analyst is the one at which the analyst worked the longest during 1999 and the one that gets the credit for his or her achievement. Whenever possible, a footnote indicates if an analyst is no longer at the firm shown. For each industry, the number of analysts evaluated and their median score are shown. And now, a word from Mr. Silverman: But many biotech stocks have returned to earth after last year's huge run-up. Now, Mr. Silverman's favorite companies specialize in "replacement parts," or next-generation versions of drugs already on the market. These include Cubist Pharmaceuticals with a powerful antibiotic for hospital-based infections, CV Therapeutics with an improved treatment for chronic chest pain and Neurocrine Biosciences with the "next big sleeping pill," he said. "If there is value in biotech today, it's in these second-tier product companies," said Mr. Silverman, 35 years old, who is back for the second consecutive year and also is taking home an award this year for earnings forecasting. Both CV Therapeutics and Neurocrine were on his list last year, too. And he said Cubist, which he began covering in January, is his single best pick for the next 12 months. "I think this antibiotic of theirs will become the standard of care for serious life-threatening infections in hospitals." sorry the table is so out of wack. FYI, Jim