In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Ligand Pharma (LGND), with a price target of $214. The company’s shares opened today at $106.16, close to its 52-week low of $94.47.
Pantginis commented:
“Valuation and risks to price target achievement. We reiterate our Buy rating and $214 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 200 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 is currently ranked with no stars on a 0-5 star ranking scale, with an average return of -9.6% and a 32.4% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.
Ligand Pharma has an analyst consensus of Strong Buy, with a price target consensus of $160.75.
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Ligand Pharma’s market cap is currently $2.11B and has a P/E ratio of 3.06. The company has a Price to Book ratio of 1.96.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LGND in relation to earlier this year. Last month, Matthew W. Foehr, the President & COO of LGND bought 1,004 shares for a total of $22,008.
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 to 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.
