Biotech Values

[ghmm]

Not surprising I am long a couple of your picks (ITMN, ENTA) and like/watch some of the others (PRTA and RARE). Even though I like RARE I am a bit surprised you picked it up now. I realize you take a long term view (so do I) I just see the valuation as still quite high given they are basically still phase 2 assets. I certainly could see them never reaching what I would see as a fair valuation (probably in the mid 20's) or my buy range (upper teens - low 20's). Is there a program in particular you like?