Valuation "depressions" or detonating pharmaceutical stock quotes

The pharmaceutical sector since the beginning of the rise behind the market, its relative market valuation premium is currently below the historical average.　　Along with the medical unit fundamentals to the good, the growth determination, the valuation will be further pulls low, is expected to detonate the medicine plate market the catalyst. From January 5 to July 13 this year, according to the arithmetic averaging method, shen million medical biological index rose 81.15%, according to the total market capitalization weighted average method, the medical biological index rose 53.06%, are ranked in the fourth-tier industry index of the penultimate list, running all the shares 105.99% and 73.21% of the gains.　　Lagging market share price performance makes the medicine plate become the current valuation "depression" one. Relative to other plates, the A-share pharmaceutical biological plate has been high, the majority of countries in the pharmaceutical sector relative to the overall market also has a certain valuation premium, so the longitudinal inspection of the pharmaceutical sector is more scientific valuation. In accordance with the TTM overall method, we eliminate negative values, and cycle by week, to calculate the Bio-index and the P/E ratio of all A shares since 2001.　　The results showed that the average valuation premium rate of the pharmaceutical plate in the statistical period was 46.06%, and the latest premium rate of July 13 was 36.32%, which was below the average of 10% and was at historic lows. Even in a horizontal comparison, the valuation of the pharmaceutical sector remains relatively low.　　According to the overall law, in the Year of the quarterly statistics by 4 of the financial data, the July 13, the Bio-index of the corresponding 33.01 times times, the absolute number of 23 companies at the bottom of the seventh-tier industry index. It can be seen that the current medical biological plate enjoys obvious valuation advantages.　　At the same time, with the increase of industry concentration, the clear trend of VE price, the further promotion of medical and health system reform and the continuous improvement of the operating environment, the performance of pharmaceutical industry must continue to recover, thus continuing to lower industry valuation. According to wind information forecast, 2009, the pharmaceutical bio-industry plate earnings per share will reach 0.56 yuan, the 23 companies in the industrial index after the food and beverage and mining sector, while the biomedical sector of the 2009 forecast P/E ratio of 27.48 times times, relative to all A shares 23.57 times times the forecast P/E ratio, its valuation premium rate pulled to 16%　　Far below the 46.06% average. Specific to a stock, the current number of pharmaceutical listed companies announced the first half of the results of the announcement, net profit changes of more than 100% has reached more than 10. In the large market value medical unit with more than 300 million shares of circulating capital, investment in people's livelihood, star Lake Technology, on the real medicine, the northeast Pharmaceutical, Sig pharmaceutical, double Heron Pharmaceutical, Hualan Biology, Kehua Biological and Bao pharmaceutical industry respectively 659.06%, 274.88%, 300%, 120%, 50%, 30%, 35% and 50%.　　A sharp rise in performance will surely pull down the value level, thus igniting the market's enthusiasm for the relevant stocks. In the case of Northeast Pharmacy, 2008-year report earnings per share of 0.46 yuan, in accordance with the growth rate of 120% per cent in the mid-09 earnings should be 1.012 Yuan. According to the overall method, in the year of the report multiplied by 2 of the financial data, the Northeast pharmaceutical July 13 close to the closing price of the corresponding earnings ratio of 12.49 times times. The current earnings ratio is 13.41 times times that of the same year's quarterly 4.　　A dramatic improvement in performance could be seen as a drag on valuations. Analysts pointed out that, whether horizontal or vertical comparisons, the current valuation of pharmaceutical stocks are "low-lying", investment opportunities highlighted.　　Frequent performance and good reporting will make the pharmaceutical sector's valuation advantage more apparent, thus igniting its periodic rise in the market. At present, the pharmaceutical plate relative to all a-share PE premium rate is below the historical average