H.C. Wainwright analyst Joseph Pantginis maintained a Buy rating on Ligand Pharma (NASDAQ: LGND) today and set a price target of $280. The company’s shares opened today at $203.04.
Pantginis observed:
“Valuation and risks to price target achievement. We maintain our Buy rating and $280 price target. Our target is based on sum of the parts including: (1) a clinical NPV model of assets in Phase 2 development or greater (currently 30 out of over 165 assets under development); and (2) NPV of current revenues based on our projections for royalties, material sales, and collaborative revenue.”
According to TipRanks.com, Pantginis has 0 stars on 0-5 star ranking scale with an average return of -10.8% and a 33.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as SELLAS Life Sciences Group Inc, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.
Currently, the analyst consensus on Ligand Pharma is a Moderate Buy with an average price target of $265.67.
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The company has a one-year high of $278.62 and a one-year low of $126.50. Currently, Ligand Pharma has an average volume of 432.2K.
Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Todd Davis, a Director at LGND bought 5,083 shares for a total of $525,021.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ligand Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in developing or acquiring technologies that help pharmaceutical companies discover and develop medicines. Its products include evomela, IV voriconazole, duavee, viviant/conbriza, nexterone, and noxafil-IV. The company was founded by Ronald M. Evans in 1987 and is headquartered in San Diego, CA.
