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

To: RXGOLF who wrote (24229)	8/8/1998 10:31:00 PM
From: tonyt	Read Replies (1) \| Respond to of 32384

<<I thought that a real discussion of Friday's action would be of interest. >> >Henry, I tried that earlier in the week, and I think there are a few people who >don't want this thread to discuss anything real any longer. How could you possibly find 25+ posts on a 7,900 LGND 'trade' interesting? (and no matter that it's 'about' LGND, its still clutter and belongs in the clubhouse)

To: RXGOLF who wrote (24229)	8/8/1998 10:42:00 PM
From: Henry Niman	Respond to of 32384

Greg, I guess that has been obvious for quite some time. Cluttering with nonsense is the name of their game. I did think that Friday's action was quite impressive (although some seem to think that a 1 1/2 point rise on 15,000 shares is more exciting). LGND is a more mature company and it tends to make moves a bit more gradually. It's institution support is about 30% and it has grown significantly in the past 3 month reporting period (big boys bought 4.9 million shares). The big boy buying on Friday was also important because some institutions are cutting the smaller Biotechs loose. The WSJ article on T.Rowe Price: paradise-web.com confirmed the stories that I had heard. Their Health Sciences fund had 125,000 shares of LGND last time I looked (3Q of last year) and the T. Rowe Price family of funds held over 400,000 shares of LGND. According to SA, they actually increased their holdings since 3Q last year. LGND is maturing into a Biotech that the big boys can believe in. I suspect that the nibbling last week followed by the heavy duty buying this week, is a sign of good things to come (and the road show that begins next month should help). I can understand why our naysayers would call buys sells and suggest that buys at the high for the day were possibly cancelled, but its hard to imagine anyone actually believing such fantasies.