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...
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhE3YTDUjQaD3y0kU2zzrD5VaQCQVlzesG3IJwJ8a7gBJhdIPIRIQoCS3JGazsBOZJlWpFQKNik2iLWscQoAAOQBj0_nNu5WVPesKBQbeT3Z2eYfMTVB6xwTLPyL58hsOvFPEoPFA/s320/sc.png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjsc3ZWchjzv4JRGlXAqMOVSHC-4b1nNjjrEv6I7ycVJq1PTNL_rgFeyaVctZsoWmu2aTMothELRvgC7kp1RsVF9bUesi11339BH1DlklYwpEA97Sfo7jUb5SQuABwWRX6aFJGFPQ/s320/sc-1.png)
And The Bad...
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiHKO43F1_QRcPtcZVwDuHUHQNBh-vXYfUd4VpK0iBEbAE93EYTRlntyQ-AIzDj7aL-vZwpda73o9OwKqBdZQaIqs2knzEL1HpOxGkXx2Vm-D2U14JcRPApGBnoUlAqAlagncQ3rg/s320/sc-2.png)
Fortunately, I have a bit more of the good than the bad :)
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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