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Biotech / Medical : SangStat Med. (SANG) - 10 of 10 analysts say Strong Buy -- Ignore unavailable to you. Want to Upgrade?

To: F. Jay Abella, III who wrote (65)	1/24/1998 2:30:00 AM
From: James Silverman	Read Replies (1) \| Respond to of 184

Jay, FYI, H&Q's EPS estimate for 1999 is $2.00. So its 15X 1999 estimates which to me is not so steep. She also has a $60 price target for the next 12 months, which may or may not be aggressive. As I suspected, she also has SANG as turning profitable in the 2H of this year. Still don't see it being valid to value these guys as a development stage company. So I'm not too keen on running the numbers for you in order to show "fair" value is somewhere in the teens, as I disagree with the methodology in SANG's case. For earlier stage and more risky biotechs I can see the merits in your system. Jim