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Recent news item on the company. Stock dropped from 26 to less than 12 in
one day in July. Could be ok if you have the guts and know more than this
about the company. Me, I'd rather trade futures:
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GREAT NECK, N.Y., Sept. 10 /PRNewswire/ --Robert M. Cohen & Co. initiated
coverage of PLC Systems, Inc.
(Amex:PLC) with a speculative buy rating and set a 12-month price target of
$26 per share.
Robert M. Cohen analyst Keith R. Bossey noted that PLC stock has fallen 52%
from its high and is trading well below
comparative company valuations at similar stages -- all due to an FDA
panel's non-approval of PLC System's Heart Laser
based on insufficient data.
Bossey said that the stock slide was caused by a ``non-approval'' rather
than an outright rejection, and he anticipates FDA
approval by Q1 1998. ``The Heart Laser device is currently, and I might add
successfully, being used in Europe and Asia.
The FDA panel suggested that the device was a promising new treatment for
coronary artery disease. What concerned the
panel was a ''surprising`` lack of follow-up data,'' Bossey said.
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Bob Doeden
Steven Buss wrote:
> Take a look at the PLC Systems chart. Seems to me that it is a pattern
> right out of the textbooks.
>
> What do you think?
>
> Steve
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