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

To: Biomaven who wrote (7652)	1/3/2003 2:15:56 PM
From: Doc Bones	Read Replies (1) \| Respond to of 52153

Forest Labs Has a Better Story Left to Tell By James J. Cramer 01/03/2003 12:48 PM EST Forest Labs (FRX:NYSE) isn't finished going up. Here's why: This stock was at $110 before it got hit by a couple of downgrades off of some lack of approval for a drug that wasn't even in the numbers for next year. But numbers for this year are too low because of drugs that are already on the market, including Celexa, which is the fastest-acting of the antidepressants and the one that doctors are most willing to prescribe for children. Forest Labs is a smart company. It left enough room in its announcement to have another round of raised numbers when it actually reports. The "by at least 15%" could give you a big boost when the company reports on Jan. 16. And don't forget, the real excitement comes from Memantine, the Alzheimer's disease treatment, the one that would be the most viable treatment on the market. Three weeks ago, Forest Labs refiled its application for the drug with the Food and Drug Administration, and it would not surprise me to hear some good news about this drug when the company reports. I own Forest Labs for my Action Alerts PLUS portfolio. I took a lot of heat when I bought it on the dip. Normally, I would have taken some off the table today, but I am holding on because this company's got a better story to tell then it has so far, and I would not be surprised to see it trading at its 52-week high when it finally gets around to reporting. Then action might be worthwhile. Now, though, there's too much left on the table to leave it. thestreet.com