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

To: bob smith who wrote (17312)3/12/1998 1:03:00 PM
From: Andreas Helke  Read Replies (2) | Respond to of 32384
 
The Nasdaq biotech index is market cap weighted. Therefore Amgen is its by far most important component and when Amgen is doing well the index has to follow.

The slow but consistent upward movement of Ligand was nice as long as it lasted but we can't really expect that downward movements get outlawed. And if they were you would be stuck with overvalued shares of companies with poor prospects because there would not be any buyers for your overvalued shares.

We do now have the rumor of an NDA filing which will be replaced by the rumor of an NDA approval which will be replaced by the rumor that Ligand will soon be a biotech with profits. The market cap will still have to double to adopt to the status of an profitable biotech company.

Andreas



To: bob smith who wrote (17312)3/12/1998 4:01:00 PM
From: WTDEC  Respond to of 32384
 
Bob, is the Fidelity Biotech an index or one of their sector funds? If it is the latter, it is 'activly' managed and would not be comparable to an index, which is passively structured based on fixed, published criteria.

Also, LGND has been out-performing over the past week or so and is due for a rest.

Regards,

Walter


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