I'm a sucker for alliteration and puns.
And I'm all about clever ticker symbols, provided they don't cross that fine line between clever and too cute. Genentech and DNA is an example of the good kind of clever. WOOF for the animal healthcare company VCA Antech might be getting really close to that line, but as a dog-lover I like it.
Anyway, until this morning I'd never heard of a company called CardioNet or the ticker symbol BEAT. And the only reason it caught my eye is because I got a research note from Rick Wise at Leerink Swann about BEAT beating the Street, although its earnings guidance for this year is below expectations. In early trading, the shares are rallying on heavier than average volume. It's normally a pretty lightly-traded stock and one of those companies that only has a handful of analysts covering it.
CardioNet makes mobile devices for heart patients so their doctors can remotely monitor their heartbeats. Leerink's Wise says the light profit forecast for 2009 is due to the company hiring more salespeople. But over the long run, he thinks that's a good thing. "We continue to rate BEAT shares Outperform as we are increasingly confident in the company's ability to deliver solid double-digit top- and bottom-line growth through 2012." Leerink makes a market in the stock and has banked BEAT. On that alliterative note, I'm out.
Questions? Comments? Pharma@cnbc.com