Are biotech stocks positioned for rebound? Print E-mail
By Staff and Wire Reports   
Thursday, 22 September 2011 08:27
fda calendarStocks of companies specializing in biotech-research tools have been pummeled in recent weeks, but several of them appear to have been oversold and could make a comeback, analysts say.

“These companies have been unduly punished,” said Peter Lawson, a life sciences analyst for Mizuho Securities. “As a long-term hold, they’re definitely a buying opportunity.”

Shares of toolmakers, which market products ranging from chemical reagents to genomic sequencers, have been under pressure for months, plagued by concerns that ongoing consolidation in the pharmaceutical industry, a major client, will eventually eat into sales.

The stocks fell further in July as the U.S. debt-limit crisis began to heat up.

Since that time, investors have been haunted by the notion that lawmakers will move to slash the National Institutes of Health’s budget, a major funding source for university and hospital researchers. The so-called supercommittee in Congress charged with forming a long-term deficit reduction plan is being closely watched in the biotech... Read More


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