Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 199.07

-3.4%

Nov 20 3:59 PM EST

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To: medsunman who wrote (13417)	1/17/1998 8:53:00 AM
From: celeryroot.com	Read Replies (1) of 32384

It is rather strange that 4 or 5 reputable organizations have rated this as a strong buy at higher prices and before the Lilly agreement.There has also been some heavy accumulation within the last 2 weeks. " Without getting into specifics, I got the impression that many viewed LGND as fully valued at these prices given that its near-term market opportunities (KS & CTCL) are so small. With positive EPS projected in '99, investors within a quarter or so are going to start looking at projected '99 EPS, and stock values are going to reflect those EPS expectations. In the case of LGND, EPS numbers are small (especially if you net out from operating profit all the non-recurring milestone revenue). It was my impression that the big revenues and earnings from expanded off-label cancer sales, diabetes, ostoporosis, oral EPO, etc... are being heavily discounted, and essentially not counted." To me these are the comments of a rather naive investor who buys about the time the big investors are thinking about dumping. I suggest you do some homework on how bio's are evaluated.

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