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

To: Biomaven who wrote (2462)	1/5/2001 1:04:04 PM
From: Jim Oravetz	Read Replies (2) \| Respond to of 52153

Biotech Stocks Fall On Merrill Outlook For 2001 Dow Jones Newswires By Laura Elizabeth Pohl Of DOW JONES NEWSWIRES NEW YORK -- Biotech stocks took a pounding Friday after Merrill Lynch & Co. analyst Eric Hecht issued a cautious outlook for the sector for 2001. Though biotechs were profitable in 2000, many stocks were marked by excessive speculation and high volatility. Now Hecht is concerned that the volatility was a precursor to serious corrections. "Thus, we are currently cautious about our stocks despite being bullish on the fundamentals of the industry," Hecht wrote in a note. Hecht couldn't immediately be reched for comment. Jim

To: Biomaven who wrote (2462)	1/6/2001 1:38:24 AM
From: tuck	Respond to of 52153

Say, has anyone noticed that two weeks ago, Congress boosted Medicare spending by $35 billion over the next 5 years? Seems like a nice fundamental. Only seen it mentioned once. Cheers, Tuck

To: Biomaven who wrote (2462)	1/8/2001 7:30:03 AM
From: kendall harmon	Read Replies (1) \| Respond to of 52153

CVTX, From a Friday Dow Jones story Biotech stocks took a pounding Friday after Merrill Lynch & Co. analyst Eric Hecht issued a cautious outlook for the sector for 2001.... Though Merrill's Hecht sees underlying earnings growth for biotechs approaching 30%, he is worried that biotech stock valuations are still too high. Hecht is also "most uncomfortable" with the ooh-ing and aah-ing over genomics stocks. He said many genomics companies have poor business models that aren't likely to generate future cash flow. Analyst Matthew Gellar of CIBC World Markets Corp. offered a more positive outlook on the biotech sector, saying interest in biotechs seems to be increasing, but investors are waiting for the sector to bottom out before buying. He said 2001 could be the "most exciting year" in terms of new products. According to Hecht, companies with new products stand to do well in 2001. Among his recommendations were Adolor Corp. (ADLR), IDEC Pharmaceuticals Corp. (IDPH), MedImmune Inc. (MEDI), Serono SA (SA) and CV Therapeutics Inc. (CVTX).... Shares of CV Therapeutics, which Hecht upgraded to intermediate-term buy from accumulate, were the biggest losers in the sector, recently changing hands at $40, a loss of 34.3% or $20.88. Earlier Friday, the Palo Alto, Calif., company said an interim study of trial data for Carisa, a drug to treat angina, found statistical variances among patients' treadmill times.