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Biotech / Medical : Ligand (LGND) Breakout!
LGND 202.67+1.2%10:02 AM EST

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To: Henry Niman who wrote (24353)8/10/1998 7:44:00 PM
From: bob zagorin  Read Replies (3) of 32384
 
Henry, Lehman has posted a new analysis on Isis which gives an interesting formula for valuing a late development stage biotech. They give ISIP a PE of 30 for the year 2003 when they expect siginifcant earnings. Then they discount that PE back 50% per year to present to arrive at 12 mos. target of 20. Care to apply that formula to LGND.
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