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

To: Tommy D who wrote (25006)	8/31/1998 6:12:00 AM
From: Henry Niman	Respond to of 32384

TommyD, Biotechs were in a Bear market from 1992 to 1995 and LGND as well as many other Biotechs are currently near those low levels of 1995. At that time the market reversed itself and the entire sector showed a gain of almost 100% for the year. LGND did actively participate in that sharp rebound. In the Spring of 1995 Bear Stearns initiated coverage when LGND was in the low sixes and the price quickly (a month or two) bounced back into the double digit area (MTSL and CTSL also began recommending LGND then).