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Nanogen, Inc. |
Even after the 30% price jump today, this seems to be a good buy. The
stock price has been declining in the past year, yet sales are picking
up substantially each quarter. Historically it has been much higher,
and as it gets noticed it should gradually inch up. Maybe $ 3-4 by
mid-summer? I am going out on a limb here.
It seems to be in a good business; biotechnology consumables.
Particularly the DNA microarray (AKA DNA chips) business should really
pick up in the next few years as genetic testing gets used every more
widely across the board. Many small biotech companies live out most
of their existance without many sales, with investors hanging on it
hope of a big development. It seems NGEN will have an increasing
business that is not as dependent on single drup approvals. It could
turn profitable soon too, or be bought out.