Unlike the stock market in general, the...

Unlike the stock market in general, the majority of San Diego stocks stubbornly refuse to reach new highs, quipped Irving Katz, director of research for San Diego Securities Inc.

An exception this week was Fisher Scientific Group, a recent spinoff of Henley Group Inc., which was up 2 1/2 points to a high of 16 1/2 in continuing reaction to a favorable report from a Drexel Burnham & Lambert analyst. The report predicted that earnings might progress from 50 cents to 75 cents in 1987; between $1 and $1.25 in 1988 and between $1.50 and $1.90 in 1990.

Psicorp. Inc. was up 1 point to 6 3/4 as company officials told their story to financial analysts at a symposium on cardiology sponsored by L.F. Rothschild. The company is the leading supplier of profusionists (technicians who operate critical care equipment during open heart surgery) to U.S. hospitals.

The company went public in June, 1986, at $7.50 per share and has reported good revenue growth in its first two quarters of 1987. Earnings have been flat because the company expensed its move from Michigan to San Diego during its second quarter.

Mycogen Corp., a locally based biotechnology company engaged in the research and commercial development of biological pesticides, sold 1.6 million shares at $11 per share in its initial public offering last week, down from its expected offering price of $13 to $16. The stock, which is listed on NASDAQ with the symbol MYCO, closed Monday at 10 7/8.

Energy Factors Inc. dropped another point to 8 5/8. Investors continue to believe that Sithe Group’s purchase of a controlling interest in the company at $10 per share was a better deal for Sithe than for shareholders, who would have been taken out at $17.25 a share had Sithe’s earlier offer been completed.

With no news announcements for the first time in many weeks, Molecular Biosystems Inc. was down 1 3/4, to 10 1/2, Katz said.