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

To: rkrw who wrote (9246)	10/2/2003 7:50:25 AM
From: quidditch	Respond to of 52153

GS on MEDI this morning: <During a Goldman Sachs conference call, MEDI management provided an update on the launch of FluMist. MEDI and its partner, Wyeth, just initiated a direct-to-consumer campaign aimed at increasing patient awareness. Promotional material should be available at pharmacies and physician offices shortly. Several large employers have agreed to offer FluMist to their employees. We continue to rate MEDI Outperform for long- term investors based on double-digit growth of Synagis, the launch of FluMist, and an increasingly visible pipeline. However, we expect the shares might be under pressure in the near term as investors speculate on the rate of penetration for FluMist. MEDI shares are trading at 30X our 2004 EPS of $1.10 or a PEG of 1.5 vs group averages of 1.4. Risks are lower sales and development failures. Our coverage view remains Neutral. P/E 35.4x 29.9x EPS Qtr/Interim* $-0.08 $-0.13 * Current and year ago, respectively> quid

To: rkrw who wrote (9246)	10/16/2003 12:36:34 AM
From: Spekulatius	Respond to of 52153

It has been a while since i posted something biotech related but it strikes me that many 1st tier biotechs have been giving away their gains recently (BGEN IDPH, MEDI). Especially MEDI seems to be coming back into a fairly attractive valuation range, given the large potential upside in Flumist. 2nd and 3rd tier biotechs have been on the roll. it seems to me that the best (investing?) strategy this year simply has beento buy any money losing company trading on the Nasdaq. This of course includes the bulk of the biotech companies :-).