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Biotech / Medical : Ligand (LGND) Breakout! -- Ignore unavailable to you. Want to Upgrade?

To: shasta23 who wrote (11068)	11/14/1997 12:43:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 32384

Stefan, Roberston Stephens projected earning of $14.55 per share (fully diluted to 50 million shares) in 2006.

To: shasta23 who wrote (11068)	11/14/1997 12:46:00 PM
From: Henry Niman	Respond to of 32384

Stefan, A few hundred shares traded at 13 1/2, but the buys at 13 5/8 caused the MMs to raise the ask to 13 3/4.

To: shasta23 who wrote (11068)	11/14/1997 12:51:00 PM
From: tonyt	Respond to of 32384

BTW, that 45k was most definetly a sell as the ask was 13 7/8's with a bid of 13 5/8's when the 45k was executed. The subsequent drop in the bid to 13.5 supports my assessment that it was a sell. Stock does indeed look weak, especially with the market up today (dow +50, NASDAQ +17)

To: shasta23 who wrote (11068)	11/14/1997 12:57:00 PM
From: Henry Niman	Read Replies (2) \| Respond to of 32384

Stefan, Quote.com at quote.com showed the bid drop to 13 1/2 at 11:14:36 and the 45.5K trade of 13 5/8 execute at 11:16:05 (ask was 13 7/8, but big boys frequently trade somewhere in between). I haven't seen any data to indicate that these numbers were incorrect. Its always tricky to call a trade a buy or sell, especially when its between the bid and ask. I have a dermatologist friend who put in a LGND buy order for 5 1/2 (1000 shares) when LGND set its all time low. He insists that 500 shares were filled (as a buy) at 5 1/2 even though that is LGND's all time low.

To: shasta23 who wrote (11068)	11/14/1997 1:21:00 PM
From: Dan O.	Respond to of 32384

Stefan, a couple of minor points on the dead money. 1. In the last year lgnd went from 12 to its current 13 3/4, a 14.5% gain. Not great, but not dead money. 2. You are a 2/3rd of the way to a lower cap gains tax. 3. While the stock doesn't reflect it (gimme a break all you efficient market people) the company has moved forward big time. At some time the market will recognize this. 4. If we see the 12's it's a screaming buy. (and yes I'm getting tired of all of these buying opportunities) Good investing. Dan Ogens