Marketwatch released something today an ILMN was part of their strong buy recommendation but I don't know if this was the reason....I edited the press release cause I can't go over 400 characters but here is the relevant stuff:
Take advantage of these bargains in the biotech basement Marketwatch - June 27, 2007 2:16 PM ET
The Biotech Index (BTK) is currently the weaker of the five (with the Dow Jones Industrial Average, Nasdaq Composite, Standard & Poor's 500 Index and the Semiconductor Index making up the other four) but we believe now is the time for investors to step up and take advantage of some of the bargains currently presenting themselves in the biotech sector..............<cut>
Finally, to round out a nice basket of biotech bloomers, we'd also encourage investors to add smaller pieces of Affymetrix (AFFX), Illumina (ILMN), and Luminex (LMNX) to their portfolios as well.
These three companies all design and manufacture systems used for high-throughput genetic sequencing in a variety of commercial and research settings. When owned as a basket of stocks, they represent our modern-day application of the old, "Wanna get rich in a gold rush? Don't pan for gold -- invest in the companies making the shovels!" approach to investing.
Over time, it would not surprise us at all to see one (or more) of these companies get bought out by a larger rival, but at the current time, we believe there is still plenty of room for all three to grow and prosper before the industry is forced to consolidate. The "strong buy" and "buy" limits, respectively, for each of these stocks are:
Illumina -- $36, $42
Affymetrix -- $25, $28
Luminex -- $15, $18
Nate Pile edits the Nate's Notes investment letter and NotWallStreet.com. He also manages the Elensius Capital hedge fund. Through the fund and personal accounts, Pile and members of his immediate family hold long positions in Celgene, Martek and Apple. (notwallstreet.com)
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