NEW YORK, Sept. 26 - Dresdner Kleinwort Wasserstein has begun covering a handful of “special niche” genomic and proteomic companies, the financial company said on Wednesday.
The coverage, which will be led by analyst Charles C. Duncan, will include Celgene, CuraGen, Exelixis, Human Genome Sciences, Millennium Pharmaceuticals, Myriad Genetics, Tularik, and Vertex Pharmaceuticals. These all were rated a “Buy,” the company said in a statement. Two more companies, Celera Genomics and Sangamo BioSciences, were rated an “Add.”
Duncan, who directs Dresdner Kleinwort Wasserstein's Equity Research Division in New York, has identified these companies, which he explained in a statement “stand at a productivity inflection point.”
“These companies make up a small group of established firms that … have fully adopted the use of genomic information and the new tools of biology and … have shown early successes in establishing the potential for multiple product development—both of which are key to generating superior rates of return for investors over the coming years,” Duncan said.
“We are recommending investment in companies with excellent product development capabilities, a long list of product-oriented news flow, and truly exciting growth prospects. Moreover, as drug developers, these companies are relatively ‘recession-resistant,’” he added.