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

To: Harold Engstrom who wrote (781)	11/13/1998 8:56:00 PM
From: PuddleGlum	Respond to of 1686

Harold- I sure can't account for the rise in share price. In fact, I'm tempted to bail here and wait for this one to come back to earth. But you know that as soon as I bail they'll announce something fantastic and I'll never be able to get back in. pg

To: Harold Engstrom who wrote (781)	11/14/1998 7:48:00 AM
From: Bwe	Respond to of 1686

Boy, is BGEN a strong stock. And it seems to get stronger by the day. I swapped into AMGN a while back and have been rewarded nicely with the stock, however, BGEN has been the bigger mover of the two. BGEN broke out of a Bullish Triangle pattern on it's point & figure chart at $73 and has given two more confirming buy signals along the way at $75 and $79. The buy signal at $75 was particularly noteworthy because it was a spread Triple Top buy signal that cleared a price level ($73 - 74) that the stock had been turned back from on a few occasions. BGEN last gave a sell signal at $61 and that caused little damage and the stock quickly reversed back up and resumed it's ascent. The next sell signal would be at $74 and major support is at $66. Minor support is at $73. The bullish price objective is $99 and it looks very good that the po will be achieved. The Biomedics Bullish % is Bull Confirmed at 56% which means that 56% of the stocks in the sector are on p&f buy signals. Overbought levels are over 68%. Another stock in the group which looks very good is Centocor, which gave a new Relative Strength Buy signal this week on it's chart. Stocks that give new RS signals are usually good performers for a long time. Take care, Bruce

To: Harold Engstrom who wrote (781)	11/16/1998 11:18:00 PM
From: mauser96	Read Replies (1) \| Respond to of 1686

The pop in price is probably partly due to multiple buy recommendations by several market newsletters with very good reputations. The resulting buying pressure in turn attracted the momentum guys, which caused even higher prices. Prices in the market sometimes have a life of their own, unrelated to any fundamental changes in the company.

To: Harold Engstrom who wrote (781)	12/16/1998 7:28:00 PM
From: Vector1	Read Replies (1) \| Respond to of 1686

November scripts came out today. Avonex new scripts were up an impressive 40%. Stock responded accordingly. V1

To: Harold Engstrom who wrote (781)	12/23/1998 3:08:00 PM
From: Beltropolis Boy	Respond to of 1686

Biogen CEO Tobin Quits in Surprise Move; Shares Drop Bloomberg News December 23, 1998, 11:30 a.m. PT Cambridge, Massachusetts, Dec. 23 (Bloomberg) -- Biogen Inc., one of the world's biggest biotechnology companies, said Chief Executive and President James Tobin resigned, unexpected news that sent company shares tumbling as much as 19 percent. Tobin, 54, will be succeeded by James L. Vincent, 59, currently Biogen's chairman. Vincent, who was president of the company from 1985 to 1994 and CEO from 1985 to 1997, said he expects to remain as CEO for one to two years. Shares of Biogen, which reached a 52-week high yesterday, tumbled 7 7/8 to 79 in trading of 10.2 million shares, more than seven times its three-month daily average, and traded as low as 70 3/4. Tobin's resignation "was initiated totally and solely by Jim. This was not connected with any other happening at the company," Vincent said. Tobin and the company agreed not to elaborate on the reasons for Tobin's departure, Vincent said. "It will be my goal to evolve the replacement structure going forward out of the current management team," Vincent said in a conference call with analysts. During Tobin's five years with Biogen, he helped mold it into one of the world's biggest and most successful biotech companies. Biogen has turned its multiple sclerosis drug Avonex into a blockbuster whose strong sales helped Biogen shares more than double this year, making it the best performer among large biotech companies. Mary Ann Gray, an analyst with Raymond James with a "buy" recommendation on Biogen, said she was surprised that the news caused the stock to tumble. "I think this is at worst neutral, at best slightly positive," she said. "The decline must be because it's a surprise. I think they just need to give people confidence that there is nothing wrong internally -- that Avonex sales are still on track and that earnings growth looks good."