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

To: Harold Engstrom who wrote (671)	6/20/1998 2:26:00 AM
From: Vector1	Read Replies (1) \| Respond to of 1686

Harold, Thanks for the excellent report on the shareholder meeting. I agree that Biogen is one of the best run, if not the best run biotech. With the Intron A patent litigation settled and Schering pushing Intron A into new indications it looks like the royalty stream will decline much less quickly than had been expected by some on the street. If second quarter Avonex sales are strong (north of 85m) we could be looking at a drive into the mid 50s. <<they said Idec Pharmaceutical's travelling down the CD40L path would be an expensive trip.>> Interesting. A little swagger in that statement. Biogen is a veteran of numerous patent wars. I bet they are well prepared to take on IDEC. V1

To: Harold Engstrom who wrote (671)	6/21/1998 7:41:00 AM
From: Bwe	Read Replies (1) \| Respond to of 1686

Harold, fine post and I appreciate your good work for the thread. I posted a couple of months back on BGEN's relative strength (RS) point & figure (p&f) buy signal the stock gave in March at $47. Since that bullish RS signal, the best that can be said is that the stock has held up rather well despite a very nasty market. A few technical p&f notes that are worthy of consideration: -After BGEN made two tops at $49, the stock has tested support twice and the bullish support line (BSL) held both times at $41 in April and at $43 in May. This support line was drawn in after the October $31 low and is evidence of BGEN's continued uptrend. -After the last $49 April high a Bearish Resistance Line (BRL) is drawn to give the chartist an idea of where the stock might run into trouble after advances. That BRL was taken out with the stock's recent advance at $45. -BGEN has given three consecutive bullish chart patterns with the most recent being a "triple top" buy signal at $48. The price objective is currently $58 and counting. -While BGEN has given a buy signal on it's chart, the Biomed/Genetics sector is one box away from a sell and is approaching oversold territory. Only 34% of all the stocks in that group are on p&f buy signals and BGEN is one of them. That's what RS is all about. If an investor is so inclined, a buy list of strong stocks in the sector could be compiled for possible purchase after the group reaches oversold status. BGEN would most certainly be one of the stocks on that list. Thanks again, Harold, and at this point, the way the stock is acting, it looks like higher prices are in the offing. I believe you wrote in March that the low $50's represented fair value with all things considered, and if the market strengthens to any degree I believe BGEN will rise to at least that level. Regards, Bruce