Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 200.79

-0.2%

Nov 14 9:30 AM EST

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To: Brian Moore who wrote (17642)	3/18/1998 8:25:00 PM
From: Andreas Helke	Read Replies (1) of 32384

I have identified Ligand as a candidate for that superior earnings driven long term growth. Of course you have to wait at least till 99 for positive earnings. But after that Ligand has a good chance to deliver the earnings growth that you are speaking about. Of course the business risk of a biotech is higher than that of a stock like Coca Cola. But I think the investment risk is not that different. Ligand shares will go down 50% on bad news or even for no particular reason. But the price will go up again in a reasonable time frame. With Coca Cola investors are paying a big premium for dependable growth. But if investors decide to pay less of a premium then the price will go down and it can take years to get ones money back. In contrast to Ligand Coca Cola can not compensate a lower P/E multiple with a superior earnings growth rate to get its share price up again. And the important thing is with Ligand you start with an undervalued stock while the good growth stocks are often very expensive. Andreas

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