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

To: shasta23 who wrote (21851)	6/4/1998 4:46:00 PM
From: Henry Niman	Respond to of 32384

Legg Mason has come out with a full report on ONTAK. They maintain their BUY (highest) rating and suggest that recent weakness is due to dilution concerns: paradise-web.com

To: shasta23 who wrote (21851)	6/4/1998 5:20:00 PM
From: tonyt	Read Replies (1) \| Respond to of 32384

The report also reminds us that "final FDA approval of ONTAK will trigger a $40 million payment by Ligand to Seragen." and that they only have a 12-18 month target price of $20 per share (is this all that we can hope for out of LGND in 12-18 months?). Also, Legg Manson (;-)) adds a risk rating to their rec's. While others like to state that Buy is their highest rating, it should be noted that Speculative is also their highest risk rating: Investment Rating: B-Buy, O-Outperform, M-Market Performance, U-Underperform Risk Rating: 1-Low, 2-Average, 3-Above-Average, 4-Speculative