Medidata Solutions ( MDSO) develops and deploys technological solution used in the clinical trial process and supply trial management by pharmaceutical, biotechnology and medical device companies. Revenue is expected to grow by 15% in 2012 and 13% in 2013. The company earned $1.60 on a GAAP basis and $1.51 on a non-GAAP basis in 2011, which included a litigation settlement of $6.3 million and a tax benefit of about $19.0 million. When I factor out those special items and apply a normalized tax rate of 40%, the company earned about 40 cents per share in 2011. Analysts expect MDSO to earn $1.12 in 2012 and in $1.42 in 2013. When I look forward to the company's normalized earnings, the stock has ample growth to warrant a PE of around 25 to 30 times earnings. -- Written by Scott Rothbort in Millburn, N.J.