Just annualize Q4's $1.09 (times 4 for 4 qtrs) at $4.36 and add 70-80 cents for federal reimbursements plus a nickel to a dime for Biovectra and you're already well above $5.00 eps in 2013. Then put whatever growth rate you see PLUS the fact that their staff investments were predominantly in 2012 (leveling their staff expense) and you can see that 2013 EPS SHOULD BE WELL OVER $6.00 IN 2013 HEADING FOR $7.00...AND AS NEPHROLOGY CONTINUES METEORIC GROWTH AND RHEUMATOLOGY REALLY KICKS IN BACK HALF OF 2013 FORECAST FOR 2014 MOVES TO $10 EPS OR GREATER!!!
Max--agreed on the minimum $5 EPS for 2013, then what do you make of the analyst upgrade targets of $38 and $40? P/E of 8???
Just a note--QCOR still owes Biovectra another $50M if they perform.
Sentiment: Strong Buy
Pharma...I have structured pay-outs like they gave Biovectra many times. Normal payout ratios are 3 or 4 to one...or one dollar for every 3 or 4 EPS contribution...and they ALWAYS HAVE A FUSE!!!
AS FOR ANALYST OPINIONS...LAZARD IS WITHOUT A DOUBT THE BEST OF THE BUNCH IN TERMS OF ANALYST QUALITY AND THEY ARE NOTORIOUSLY CONSERVATIVE!!! I have had several friends there over the years and they were ALL ABSOLUTELY BRILLIANT!!! GIVE IT TIME BEFORE OTHERS STICK OUT THEIR NECKS...MOSTLY CHICKEN SHIRTS WITH COMPANIES THAT HAVE HAD (NOTE ---"HAD") SOME ISSUES...