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Peter Imhof Cangene Corp CNJ-T DON'T BUY Jul 30, 2012

Great balance sheet but company is at the US government’s mercy. Will make money but over a longer period of time. He is not a big fan of this story because there are a lot better opportunities out there right now.

Peter Imhof

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$1.420

Stock price when the opinion was issued

biotechnology pharmaceutical

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TOP PICK

Some risks as revenues have gone down year to year from $240 million to $160 million. Marginal in terms of profitability from $60 million to $8 million. Has been profitable for most of the past 8 years. Good management and no debt and over $40 million in cash.

DON'T BUY

Would recommend that you stay away from this one because there is no predictability from year to year on their earnings.

BUY

A Contrarian pick in the pharma sector. Did well post-911 when people were bulking up on certain drugs. Management was a little optimistic about how well they could replace those drugs in the pipeline. He would expect it to suddenly jump out of the box.

HOLD

Undergoing tremendous changes. Looking for new products. They are looking to make an acquisition to expand product line.

WAIT

On the buy list (his partner’s). The CEO was booted out a little while ago. Company had problems because of major product in the states. It is going to spread out revenues over time. Moves sales force in-house. Need economies of scale to boost the bottom line. He says he would wait for it to go a little higher.

PAST TOP PICK

(Top Pick Nov 11/10, Down 56.50%) He got out of it personally but fund has it. Heard quarterly numbers were going to be bad and didn’t see it turning around for quite a while. New CEO that came on in August has quite a track record.

PAST TOP PICK

(A Top Pick Nov 11/10. Down 51.45%.) Sold his personal holdings at $3.18. Recently have had some good news. The new CEO has a good track record and a lot of potential. Lots of cash and a good balance sheet but they don't have enough products to sell.

PAST TOP PICK

(Top Pick Nov 11/10, Down 42.22%) Revenues are down. Major positive is a new CEO with a good track record came on a while ago. This company could be sold in a take-over, perhaps.

BUY

He bought more today. Shares are hitting new highs. He sold JNJ and bought this. He won't trade it, but hold for 10 years and will keep buying. Revenues were up 22% and 25% on sales. 10 of their drugs have double-digit earnings growth. Great dividend growth.

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Peter Imhof Cangene Corp CNJ-T DON'T BUY Jul 30, 2012

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