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Ligand Pharmaceuticals Incorporated Message Board

  • fullofabs fullofabs Feb 19, 2013 10:35 AM Flag

    Downgrades

    These two downgrades.... by Cantor a couple weeks ago, and The Street yesterday.... seem pretty questionable to me. Looks like shares are being dredged up. I sort of view it as bullish in the long run.

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    • I missed the cantor downgrade, and really don't give two craps what "The Street" says. Still holding all the shares and calls I bought on the dip to the $19s and plan on holding the shares through end of 2013 at least. I think 2nd half of this year will be huge for LGND with the melphalan data and several other catalysts.

      • 1 Reply to markak1515
      • Your worried about "downgrade" on "The Street"? Please.

        I'd rather watch insider buying. At the end of last year, Knott did a bit of selling, but our read was this was some EOY tax loss harvesting. BVF has been adding. But what I am really watching for is Form 4 or 13F by Jason Aryeh and his JALAA equities. He made a big buy into $MYRX (partially by selling in the money puts in 2011), eventually adding and getting a board seat. But after closing R&D and a NASDAQ delist, they just pushed a massive return of capital, so our read is he just came into a fist full of cash. While his group avoids 13Fs, and so it is a challange tracking his actions, we would not be surpised to see him put some of this cash to work at $LGND. As a board member, such would compel him to file a Form 4. Of course he might just do sure again via selling a pile of in the money puts which will allow him to delay reporting such till they become shares.

        With interest rates low, and the income streams rising, $LGND makes an interesting LBO target for activiest like Jason.

 
LGND
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