SGMO mentioned prominiently in IBD's lead Health & Sciences story in newspaper&online!!!
Other recent gainers in the genetics group include 3SBio, (SSRX) a Chinese biopharmaceutical firm; Human Genome Sciences, (HGSI) a developer of gene-based protein and antibody drugs; and Myriad Genetics, (MYGN) which analyzes genes and their mutations to develop treatments for cancer, Alzheimer's disease and AIDS.
Myriad's stock briefly hit 52.90 on Friday, its highest point since January 2002. Shares are up by two-thirds this year.
Shares got a big shot in the arm on Sept. 24 when Banc of America Securities analyst William Ho raised his target price for Myriad, citing revenue growth from the firm's predictive medicine business.
In a note, Ho wrote that Myriad is undervalued relative to its peers. He pointed to strength in the company's Myriad Genetic Laboratories unit, which commercializes genetic tests to predict the risk of developing breast, ovarian and colorectal cancers as well as melanoma.
"Myriad Genetic Laboratories is a leader in molecular diagnostics and is fundamentally a solid business," Ho wrote. "This is a highly profitable, high-margin business."
Though Myriad has yet to turn a profit, it has grown sales by at least 22% in each of the last 12 quarters. Analysts expect its first yearly profit in 2010.