White Hot At OsiBy , , and
Biotechs such as OSI Pharmaceuticals (OSIP) have been a booster shot for investors in an ailing market. Just a year ago, the Nasdaq stock was trading at 7: a steal, it turns out, since OSI is now around 70. The stock is down since its Nov. 6 high of 86 3/8, yet early buyers of the $2 billion company are keeping the faith. Dr. Liu-Er Chen, who picks stocks for the $70 million Evergreen Health Care mutual fund, earned his investors triple-digit returns last year picking stocks such as OSI, and he says he's staying put. He thinks OSI has the makings of a 150 stock by 2003, when he expects the money-losing outfit to be profitable.
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