We Recommend Steady Accumulation Of LGND Shares, Says Roth Capital
In a research report published today, Roth Capital analyst Joseph Pantginis reiterated coverage with a “Buy” rating on Ligand Pharmaceuticals, Inc. (LGND), and a price target of $92.00 following LGND’s presentation of a Phase I first-in-human study of its SERM lasofoxifene showing that the drug increased circulating testosterone and gonadotropin levels in healthy men.
The analyst commented: “We are encouraged by this early data which could lead to another partnering opportunity for LGND in men’s health indications.
We recommend steady accumulation of LGND shares, as we anticipate that current revenue streams from partnered products and the broad “in development” portfolio are poised to drive significant growth in the near and longer term”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Joseph Pantginis currently has a one-year average return of -6.1% and a 33% success rate. Pantginis has a 2.5% average loss recommending LGND, and he is ranked #3050 out of 3123 analysts.