Ligand (LGND) Breakout! Message Board

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Biotech / Medical : Ligand (LGND) Breakout!

LGND 199.20

+0.1%

Nov 21 9:30 AM EST

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To: scaram(o)uche who wrote (22031)	6/10/1998 5:47:00 AM
From: Andreas Helke	Read Replies (1) of 32384

Had I known that I would not get a return on my investment I would have invested into the S&P500 or into Dell instead. When I started looking into biotechs in 1996 I perceived Ligand as undervalued compared to its intelectual property, pipeline and lack of risk of long term failure. Had I known that the street only respects earnings in Ligands case than I would have known that it was actually overvalued for much of the last two years and the price should have moved from $7 in 1996 to $12 today (discounting expected earnings at 30% a year with a PE of 25). I don't see any sense in abandoning Ligand now after it finally reached a correct price. After all I have the potential upside that the street may in future recognize something beyond earnings. Andreas

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