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October 5, 2005 Stock Pick: Compugen Ltd. (CGEN)

Stock Price: $3.18

Compugen Ltd. uses computer technology with biology, chemistry, and medicine to find and develop new drugs. The company's work is based on the field of genomics.

Compugen has yet to increase revenues significantly as revenues came in at only $1.3 million for the most recent quarter and a loss of $3.34 million. The company has a few things going for it, they receive government grants and have $41 million in cash. Also, other companies are beginning to use Compugen's technology to develop and commercialize products.

After earnings were released on July 27th, CGEN trended to $4.10 within two weeks from $3.42. Earnings are due out at the end of October and it looks as if CGEN is gearing up for another run higher. At this point in time, there is little downside risk. The last press release was on August 24th, any kind of news may move this thing before earnings.

Volume has been on the rise the last few days. There are 18.3 million shares in the float.

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