Helicos BioSciences initiated with "buy" - update

07/05/07 - Pac. Growth Equities

NEW YORK, July 5 (newratings.com) - Analysts at Pacific Growth Equities initiate coverage of Helicos BioSciences Corporation (HLCS) with a "buy" rating. The 18-month fair value is set to $17.

In a research note published this morning, the analysts mention that the company’s HeliScope, which is expected to be available in the market by end-2007, would be the first platform to directly sequence the molecules of RNA or DNA. This method would not involve the amplification or cloning, which is required under the existing methods, the analysts say. Helicos BioSciences indicates that it can reach the $1000 per human genome level ahead of its competitors, in view of the anticipated improvements into the system in the upcoming few years, Pacific Growth Equities adds.