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Biotech / Medical : GelTex Pharmaceuticals (GELX) -- Ignore unavailable to you. Want to Upgrade?

To: Robert L. Ray who wrote (57)	7/27/1998 8:19:00 PM
From: Robert Holmes	Read Replies (1) \| Respond to of 127

Robert, I agree with you that this stock is undervalued. Then again, many mutual funds can't really invest in a small cap with no earnings. Additionally, many professional investors have already taken large positions in the company (see SEC EDGAR). Several analysts have strong buy recommendations with target prices in the $50 range. Regarding Cholestagel, the large phase III finished enrollment in March (even though it began earlier than that) so preliminary results still won't be known for some time (perhaps the end of the year). A Cholestagel deal could happen at anytime though.