Andy, I agree. Even when the price goes up they think that its going down. LGND made a nice gain on Friday, consolidated, and then moved up another leg. Market takes time to digest, but most will "get it" sooner or later, although some posters on this board may never quite understand. The pullback on Monday never happened, so now they want one today.
Actually, I'm not sure that the street knows what to do with such a string on good news. Most successful Biotechs have been one or two trick ponies, so stellar clinicals on multiple drugs for multiple indications is rather novel. LGND IR says that there's more to come, and six months from now, those watching from the sidelines will look back and wonder why they couldn't see the obvious.
Actually, some are still debating over the importance of platform or products. Of course with LGND the argument is moot, because they have both.
LGND says that they have the best pipeline in the industry. Impartial observers are just beginning to see why. LGND will be presenting at clinical conferences in April, May, and June and they will be in Europe at UBS in April and H&Q in May. Some just need to be beaten over the head, and LGND seems willing to provide the necessary clinical to do the trick. |
