BWS Financial upgrades CuraGen (CRGN) to Strong Buy
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BWS Financial upgrades CuraGen (Nasdaq: CRGN) to Strong Buy, following recent sell-off on fears that they say seem to be baseless that the Company would not be able to sell their stake in 454 Life Sciences.
Analyst Hamed Khorsand said, "The value of 66.7 percent stake in 454 Life Sciences would be approximately $176 million, or $3.19 per share, at the multiple of 4 times our 2008 revenue forecast for 454. At a stock price of $3.50 the market seems to be valuing the rest of CRGN at approximately $0.30 per share."
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