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

To: Icebrg who wrote (8652)	6/9/2003 5:23:45 PM
From: Biomaven	Read Replies (1) \| Respond to of 52153

Erik, And more remarkably, this happened on a day when overall biotech was off nearly 5%. We've had periods like this before - daytrader frenzy. There are a few reasonable responses: 1. Take a vacation. Probably the most sensible reaction, but I doubt many will do it. 2. Buy some likely stocks before they announce and then sell on the pop. This requires buying relatively small amounts of a bunch of hype-prone stocks. If people like, we could discuss possible names. This, as you point out, is not biotech investing. It's a low-class form of what I have called ENMD-roulette. (Low class because the news doesn't even have to be particularly good). 3. Join the daytraders and buy early on news. Presumably (but not necessarily) we should be able to do it better than know-nothing daytraders. The one thing this does is it takes the long-term shorts out of small biotechs - too much chance of getting killed on news. But it brings the short-term shorts back in with a vengeance if these stocks keep their gains. The NPRO technology is very interesting, but it clearly has a strike or two against it because of Kmiec - someone (Rick?) had a nice link discussing some of the problems he has had in the past. Peter Edit - it was indeed Rick on this thread: Message 18917610

To: Icebrg who wrote (8652)	6/17/2003 12:05:11 PM
From: Icebrg	Read Replies (2) \| Respond to of 52153

RESEARCH ALERT-BofA raises Genentech price target to $80 Tuesday June 17, 12:00 pm ET [Second time lucky?] NEW YORK, June 17 (Reuters) - Banc of America Securities (News - Websites) on Tuesday said it raised its price target for shares of biotech firm Genentech (NYSE:DNA - News) to $80 from $72, citing growing potential for its Avastin cancer drug. "Avastin represents a huge step forward for colorectal cancer patients," analyst Michael King said in a research note. Shares of Genentech closed at $74.60 on the New York Stock Exchange (News - Websites) on Monday.