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

To: Mudcat who wrote (24771)	8/19/1998 8:26:00 AM
From: tonyt	Respond to of 32384

Their actual rating is (and was) a 'speculative buy' (speculative seems to have been dropped (and 'highest rating' added) in the cut-n-paste)

To: Mudcat who wrote (24771)	8/19/1998 8:47:00 AM
From: Henry Niman	Respond to of 32384

Mudcat, Bear Stearns does not have a speculative buy category (maybe our famous naysayer is thinking about his mythical firm, Legg Manson). Bear Stearns' highest rating is a BUY. ZACKS shows LGND with 3 STRONG BUYS (Bear Stearns, Legg Mason, and Lehman) and 2 BUYS (BARS & H&Q). I did do a search on the Bear Stearns' report. Speculative was not found. Buy was found three times: Ligand Pharmaceuticals* (LGND - 8 9/16 ) - Buy We continue to rate Ligand's shares a Buy, and believe that the company's shares will benefit from the transition to a sales and earnings story. Based on this positive fundamental outlook, we continue to rate Ligand's shares at Buy and would recommend investors seriously examine the upside opportunity in the stock at current levels.

To: Mudcat who wrote (24771)	8/19/1998 9:19:00 AM
From: Henry Niman	Respond to of 32384

Mudcat, I don't think that you understood the report. It actually emphasized buying NOW because the price was so cheap and several major events were expected THIS YEAR (Second Half highlights refer to 2nd half of 1998). Maybe our most famous naysayer (although you are beginning to give challenge his position) can get you an analyst job a Legg Manson and you could write your own reports. Here's what Bear Stearns said yesterday: Based on this positive fundamental outlook, we continue to rate Ligand's shares at Buy and would recommend investors seriously examine the upside opportunity in the stock at current levels. Potential Second Half Highlights: 1. Potential Panretin Topical approval - November 2. Potential ONTAK approval - December 3. Eli Lilly development decision on Targretin Oral and other RXR compounds - December 4. Potential out-licensing of non-US, non-European product rights 5. Other potential collaborative arrangements