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Biotech / Medical : Biotech & Pharma.T.A, -- Ignore unavailable to you. Want to Upgrade?

To: Arthur Radley who wrote (158)	12/25/2002 9:10:13 PM
From: Jibacoa	Read Replies (1) \| Respond to of 3722

LGND Is trying to close its November 13 down-gap (Gap Nov.12-Nov.13 (7.14 to 5.75.)Middle of gap= 6.44) On Dec.3 it traded at 6 and closed at 5.95. On December 10 it traded at 6.24 and closed at 5.97 Yesterday the H was 5.98 and closed ad 5.95 When it can close above 6.44 the next hurdle is 7.05 and then the November 7 H at 7.75 before it can test the more important H of October 3 at 8.15 On its weekly chart the L term average line at present is at 9.57 The volume lately has been light. Last days of heavier volume were on October 20 and October 21 (7.75M & 6.77M respectively) LGND merits a close watch for a possible start of a near term up-trend on a close above 6.25 for a possible test of its weekly L term average at 9.57(That would be about a 53% gain.<g>) In Mid-November in Cancer Research (V62 pgs.6376-6380) there was an article from Baylor in which they reported that LGND's bexarotene (Targretin) reduced the development of ER-negative breast tumors in mice. Last week WellFargo Securities initiated coverage with a Hold rating.<g> The stock has been selling around 5.2 of book and its cashe/share is now down to less than $0.50. Insiders hold close to 30% and institutions, which have been selling lately, still hold more than 50% of the float.(The short position is around 3.5% of the float) siliconinvestor.com It has had a somewhat steep decline Since June this year, so it is possible some of the down-pressure may ease up after the tax-selling is over and if it gets some benefit from the "January Effect.".<g> siliconinvestor.com Bernard