Biotech Earnings Reports
A bunch of earnings just came in for the biotech sector. Let’s see, Biogen (Ticker: BIIB) and Celgene (Ticker: CELG) disappointed and they paid a price for it. On the other, hand Genzyme (Ticker: GENZ) surprised on the upside and gave earnings per share guidance of $4 for next year and $7 for 2011. Talk about a confidence in their short and long-term outlook. Based on these projections, Genzyme stock is still cheap and I see this stock at $90-100 sometime next year. Anyone take a look at Qiagen (Ticker: QGEN)? This stock has been on fire and the fire is just growing. I can’t seem to find any news to account for its rise, but I’ll take it.
The Good...
And The Bad...
Fortunately, I have a bit more of the good than the bad :)
posted by Money Turtle @ 6:19 PM
2 comments
2 Comments:
agree on GENZ. lots of potential to go higher
Goldman Sachs has a 12 month price target of $87 for Genzyme. Like I said, I see $90-100. The company should easily earn more than $4 next year.
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