AFR - today
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Jessica Gardner
Liver cancer drug developer Sirtex Medical pierced through a market value of $1 billion for the first time last week, as investors piled in after a solid sales update.
However, most analysts are cautiously bullish, saying the biotechnology company looks to be at fair value.
The stock has gained 58 per cent over the past year, compared to an 11 per cent rise in the S&P/ASX 200 and a 6 per cent rise in the top healthcare companies. But in hitting an all-time high of $19.07 last week, and in trading above $18.50 since July 3, it has eclipsed the average target price among analysts of $18.30.
The company has said it will no longer provide quarterly updates as it shifts focus to medium and long-term goals but has finished reporting on a high. Dose sales of its radioactive SIR-spheres, used in the treatment of liver cancer, rose 27.1 per cent in the final quarter of 2013-14.'
etc etc - nothing special, just another good visibility story in the AFR. All helps keep SRX in the mainstream press.
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