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

To: Biomaven who wrote (1701)	9/19/2000 2:22:37 PM
From: Biomaven	Respond to of 52153

Interesting downgrade on valuation of CELG by Pru today: Message 14408407 Over the last few years it's been a big mistake to sell a biotech with rapidly increasing earnings or prospects because it's "too expensive." We might start seeing more valuation downgrades like this in some of the other first/second tier stocks. The pure "story" stocks (like CRA) are perhaps paradoxically less vulnerable, as the appropriate valuation metrics are so much fuzzier. Peter P.S. I still hold a fair chunk of CELG, although I have sold some.