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Biotech / Medical : Ligand (LGND) Breakout!
LGND 201.15-1.3%Jan 23 9:30 AM EST
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To: Hippieslayer who wrote (10069)10/23/1997 10:08:00 PM
From: Andrew H  Read Replies (2) of 32384
 
>>I am still baffled as to how the LGND/LLY deal was received by Wall St.The analysts that cover the stock, based on what was posted on this thread, all seemed to think is was better than what they originally expected-one terming it a "blockbuster". I would have thought, based on the magnitude of the deal, that other brokerage firms who are not covering the stock would do so. I wasn't expecting the whole street to go gaga over LGND, but the stock is no better off now than it was before the deal<<

There are a few analysts we haven't heard from yet. Maybe they are still trying to figure it out. There may be more coverage--it takes time for these things to occur.

I think we all expected that the deal would push the stock a lot higher. Of course there have been some bad hair days for the market lately, but LGND wasn't surging ahead even before that. The company is certainly better off than it was before the deal. The stock should follow. Thing about COR and IDPH is that they have drugs with larger markets already approved or closer to approval. LGND is a ways from approval of a drug with a big indication. Still, seems like prices should trend higher over the next few months. LLY gave LGND a very strong seal of approval.
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