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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area -- Ignore unavailable to you. Want to Upgrade?

To: Jeffrey Beckman who wrote (3982)	9/12/2003 2:36:45 PM
From: Crossy	Respond to of 37387

Jeffrey, BNT is surely nice but not a candidate for my portfolio. Their valuation is too high for me to like them as a pure generics play.. OTOH their NCEs are a matter of approval and market reception. I'm not a biotech investor - frankly I have no ability to predict success or failure from a regulatory or medical point of view.. I can only look at financials and valuation not at a "story". And the valuation (PSR of 10) for BNT means that their CURRENT BUSINESS is more than fully priced in. Everything beyond that ("future" business) is in the category of a "story stock" which may or may not materialize. Even from a marketcap perspective, BNT is not cheap.. My question here is .. WHERE'S THE VALUE.. The story may be nice but the stock is not right for me... I was looking at BNT at $10 and didn't buy it back then.. why should I buy now ?? rgrds CROSSY