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

To: Mudcat who wrote (20659)5/13/1998 10:15:00 AM
From: tonyt  Read Replies (1) | Respond to of 32384
 
>the SRGN acquisition was supposed to make earnings better in 1999 not worse

Good point. Why would H&Q lower estimates after management states that the acq will increase estimates?



To: Mudcat who wrote (20659)5/13/1998 10:20:00 AM
From: Henry Niman  Read Replies (1) | Respond to of 32384
 
SRGN acquisition was supposed to help make LGND profitable in 1999. The three most recent projections are now very close to each other ($0.08, $0.09, & $0.11) and all show a profit. Before the LLY and SRGN deal, no one was predicting a profit for 1999.

The projection of $0.84 was much higher than Bear Stearns and Legg Mason. H&Q is now "in line" with the others and they still show the highest profit.


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