Roth Capital analyst Joseph Pantginis maintained a Buy rating on Ligand Pharmaceuticals Inc (NASDAQ:LGND) with a price target of $121.50, in light of the release of Sage Therapeutics’ (NASDAQ:SAGE) topline data from its ongoing Phase I/II study of SAGE-547 in super-refractory status epilepticus (SRSE).
Pantginis noted, “SAGE-547 is a modulator of GABA receptors that uses LGND’s proprietary Captisol-Enabled technology. We believe these data highlight the advantage of LGND’s Captisol technology and should increase partnering value for this program. SRSE is a hard to treat condition with not approved therapies, with patients refractory to anti-epileptics requiring ICU admission and a medically induced coma. With this treatment, there is potential for weaning off of the anesthetic drugs and resolving of the seizures. We believe that the Captisol technology contributes to the efficacy of the drug and should give strong support for its use and drive partnering interest. We expect the Captisol franchise to continue its growth with both research, development and commercialization revenue.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Joseph Pantginis has a total average return of -4.9% and a 45.6% success rate. Pantginis has a 1.2% average return when recommending LGND, and is ranked #3285 out of 3367 analysts.