rbs morgans - bta fundamentally cheap

http://www.theaustralian.com.au/business/biota-shares-hit-hard-by-flu-drug-test-failure/story-e6frg8zx-1226083053168

"It's not that significant," Mr Power said of the results. "The fact that it's disappointing, the fact the market is not paying for risk at the moment, means the share price got marked down. In our view, the stock is fundamentally cheap."

Investors dumped the Melbourne drug developer in a weak market, sending it down 10.3 per cent to 91.5c and cutting its market value by $20m.

Mr Power has a buy and $1.99 price target on the stock.