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

To: J Stone who wrote (23903)	8/4/1998 4:35:00 PM
From: tonyt	Read Replies (1) \| Respond to of 32384

I don't know about $14.5, but as I stated to Wallace, LGND might be a good candidate for a quick 20% before year-end.

To: J Stone who wrote (23903)	8/4/1998 5:58:00 PM
From: Russian Bear	Respond to of 32384

Jeff, The past few weeks have proven to be a really terrible time to be a biotech investor -- that is to say, even more so than usual. Today was an especially vile day. MOGN, PCYC, SEPR, AGPH -- all down. LGND's recent fate is no secret to any of us, of course. GLFD slipped under 15. Basically, it is hard for me to imagine things getting appreciably worse... But that is what I thought last month, too (so, what do I know?) My sincere belief continues to be that LGND (as well as certain other companies in the sector) is entirely too cheap (and getting cheaper, alas, all the time!) But it looks as though it will take some sort of catalyst for "the market" to re-think its valuation of the biotech sector. This could come in the form of one of any of a number of things -- a large-scale take-over of a biotech by a pharma, a bona-fide pharmacological or clinical breakthrough, etc -- but something of this sort looks like it will be necessary to get this sector turned around. To answer your question as directly and truthfully as possible: I have no idea. I firmly believe that LGNDW, for example, would be attractively priced at double today's close, but who knows whether or not that is in the cards for the remainder of 1998? Good luck, RB