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Biotech / Medical : TECHNE (Tech): "selling picks to gold miners" -- Ignore unavailable to you. Want to Upgrade?

To: Shane M who wrote (1)	1/18/1999 12:49:00 AM
From: dr.john	Read Replies (1) \| Respond to of 47

Impressive recent pick-up in volume! Was it only due to the sell-off of Genzymes 1Mio shares? I doubt, because of the strength the share-price showed. Obviously some bigger investors are becoming interested. Friday had almost 10 times (!) the usual volume. Techne is almost (only almost) an "inevitable" stock: I know of no other stock which I would be so comfortable in buying and holding on for a good, good while, being almost certain that it will be an excellent investment. In case they are bought out, I only hope it will be at a good price. (Remember Ballard Medical, a fine company, which was bought in December by KMB at a very modest 25 USD/share: hope Techne-shareholders would have better luck; but nobody is talking about buy-out anyhow). Besides, BIOI might be an interesting pick as well; however I will stay with the best play in this market: consider that even TECH is a small cap with capital C. DrJohn

To: Shane M who wrote (1)	1/22/1999 10:50:00 PM
From: Joe Dancy	Read Replies (2) \| Respond to of 47

Techne is a good company Shane, was selected as an "undiscovered gem" in the Jan 4th Business Week. I still like BIOI solely on valuation - TECH sells at a P/B of 5, a P/S of 5, and at a PE of 25 or so - BIOI sells at a P/B of 0.9, a P/S of 0.9, and a forward PE of 6 (assuming the analysts consensus estimates are right, which is never a good assumption). I like to buy beat up companies with potential cheap - why I'm running with BIOI - but TECH should do just fine. I have an interview with the CEO of BIOI, and he said the sector should grow in the double digits for the next decade, so both companies should benefit. Micheal Murphy is also bullish on biotech. Our audio interview with Murphy - and the CEO of BIOI - is at audioinvestor.com FWIW. Joe