AMRI- (recommended
to subscribers
on 3/16/05)
BOUGHT
at $8.68 SOLD
at $15.65
On March
3rd 2005 Albany Molecular Research Inc., a drug discovery and
development company that conducts research and development projects and
collaborates with pharmaceutical and biotechnology companies, reported
preliminary 4th quarter 2004 revenue of $46.1 million which compares to
revenue of $52 million in the 4th quarter of 2003. $12.2 million of the
revenue was derived from recurring royalties from sales of Allegra.
On a non-GAAP basis net income was $5.4
million or 17 cents per share. On a GAAP basis earnings per share was
11 cents. Revenue and EPS were basically in line with previous guidance.
AMRI said that it expects it's chemistry
services revenue to increase in 2005 after a period of more than a year
of decline. The company also said that based on current activity it
might actually be underestimating the demand for it's services going
forward.
For the 1st quarter of 2005 AMRI expects
earnings per share of 10-12 cents. For the full year AMRI expects
earnings per share of 45-50 cents on revenue of $169-$177 million
including royalties from Allegra which are expected to be $43-$45
million. Over the last 7 trading days 3 insiders bought shares at
prices between $8.15 and $8.78. The CEO bought 171,000 shares.
AMRI has cash and investments worth $134
million or $4.20 per share. The company has $53 million of debt. The
net cash position ($134 million - $53 million) is $81 million or $2.53
per share. Book value is $8.43 per share. At the current level the
stock has a price-to-sales ratio of 1.6 and a price-to-book ratio of 1.
In the weekly chart above you can see that the
stock just put in a low a bit lower than the low from October 2004. At
the bottom of the chart is a Relative Strength Index (RSI). The RSI did
not make a lower low while the actual stock price did. This is a
bullish technical divergence.
7/19/05
- SOLD
AT $15.65 FOR A GAIN OF 80%. DURING THE SAME PERIOD THE NASDAQ
WAS
UP 7%.
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