>>Seasonals are positive now. And no matter how I stretch,
I can't see how Asia can have a significant negative impact
on LGND. <<
Interesting overall analysis, Herbert. Yes, seasonals are positive and dilution is out of the way. Asia could have a significant impact on LGND by impacting the market as a whole. The biotechs are unlikely to rise much in a falling market.
As for Murphy's predictions, he used to suggest those $100 targets for one year after the company's first drug receives FDA approval which for LGND should be mid 1999. It is worth noting that his number one picks for this year were, I believe, DIMD in technology and INSV in biotechnology. His top ten picks in order in the Feb 28th, 1997 issue were XOMA, TRGA, GNTA , INSV, CORR, COCN, CHIR, ANRG, GERN, RZYM. Virtually everyone except CORR is currently under the price at that date. 90% (9 of 10, that is) are now lower than where he recommended them. Now there's a stockpicker for you. (:>) Even a monkey with a dart would be expected to get 50% |
