Bob,
I see the same trend on the chart. Since the big major market drop, Ligand's trading range has been inching up.
I expect that -- as has been true for similarly positioned ISIS since its small-market approval -- these two approvals will validate Ligand, and help dampen its price volatility.
----------------------
>> when it gets overhyped, it sets itself up for disappointment and a fall. <<
Amen! For example, for 3 years, I've seen what I call the "H&Q Effect." In the fluff of hype before the conference, the stock rises in December on the retail excitement, then tanks the day Ligand presents in "The Grand Ballroom." People get over-excited, then discouraged and upset. I'm fed up with it. (Just my interpretation...)
BTW, I made that mistake in January 1997, bought in at over 16, on Presentation Day. What a greenhorn! But I've traded that position into a profit, long since. No problem.
Yes, most of us know this stock pretty well. (the trend is our friend.)
The Market is used to it too, and it's been a long time since we've gotten any mileage from analyst re-its. Ligand's day will come.
But for a while longer, it's great to have a trading position in it, imo.
------------------
The FIRST news I'M hoping to see is an NDA filing for Targretin capsules for CTCL ---because THAT SYNCHS with the larger goal of getting good news for Targretin for ABC.
IMO, if even ONE of the 3 arms of that trial turns out good, the stock eventually will do well. But this is the minimum I need to see, to hold this stock -- though I expect more. We shall see, near year end ...
FWIW
Cheryl |
