BioCentury
ARTICLE | Analyst Picks & Changes

Analyst picks & changes

August 5, 1996 7:00 AM UTC

Biotech sector

Oppenheimer & Co. analyst Matthew Geller said that the rise in biotech stocks followed by a steep plunge, and the group's current volatility, is due to a crisis in valuations. Investors have been buying stocks without any idea of what they're really worth, he said, based on evanescent criteria such as news flow, sellside promotion and momentum. Geller said the group has reached a critical juncture, where meaningful, intense evaluation of what individual stocks are really worth will be critical to investment success. ...