Lately it hasn't been a love-fest among analysts and investors and Big Pharma. A few drugmakers have won their kudos, but overall the mood has been somewhat grim. Not so today. Going contrarian, a BusinessWeek columnist touts Pfizer, and a former analyst is launching (drum roll, please) a pharma-based hedge fund.
Both men essentially believe that the downside on pharma is already built in to the stock prices. (With Pfizer languishing in 52-week-low land, one would hope so.) The upside, on the other hand, has been overlooked. You know the old buy low, sell high strategy. Well, now they're low. And these optimists believe higher times are coming. "[L]ong term, people want to get better and drug companies want to make money," says Mike Krensavage of Krensavage Asset Management. "So it seems like there’s still plenty of opportunity."