Ligand Pharmaceuticals Inc. (NASDAQ:LGND) announces the appointment of Melanie J. Herman as interim Chief Financial Officer, effective May 21st. Ms. Herman currently serves as Ligand’s Director of Accounting and Chief Accounting Officer. She succeeds Nishan de Silva, who has accepted the position of President and Chief Operating Officer at a privately held therapeutics-focused gene editing company and who has notified Ligand of his resignation, to be effective next month.
“Melanie has been a highly competent and dedicated colleague for more than four years at Ligand, joining the team when we acquired CyDex and the Captisol business. She is well-versed in all aspects of our accounting and finances, and is particularly knowledgeable about our Captisol business having worked at CyDex prior to Ligand’s acquisition of the company,” said John Higgins, Chief Executive Officer of Ligand. “It has been a pleasure working with Nishan, and on behalf of Ligand and our Board of Directors I extend best wishes to him for continued professional success.”
Ms. Herman joined Ligand in January 2011 as the Company’s Controller, and was named Director of Accounting in March 2014 and Chief Accounting Officer in April 2014. Previously she was Controller at CyDex Pharmaceuticals, Inc. from 2009 to 2011, Assistant Controller and Accounting Manager at Entertainment Properties Trust from 2004 to 2009 and Senior Accountant at KPMG, LLP from 2001 to 2004. Ms. Herman holds a Bachelor of Science with a dual major of Accounting and Finance from Kansas State University, and is aCertified Public Accountant (inactive). (Original Source)
Shares of Ligand Pharmaceuticals closed today at $88.97, up $1.26 or 1.44%. LGND has a 1-year high of $89.98 and a 1-year low of $41.99. The stock’s 50-day moving average is $77.04 and its 200-day moving average is $59.74.
On the ratings front, Ligand has been the subject of a number of recent research reports. In a report issued on April 1, Deutsche Bank analyst Gregg Gilbert reiterated a Buy rating on LGND, with a price target of $94, which represents a potential upside of 7.0% from where the stock is currently trading. Separately, on March 5, Cantor Fitzgerald’s Irina Rivkind Koffler reiterated a Hold rating on the stock and has a price target of $65.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Gregg Gilbert and Irina Rivkind Koffler have a total average return of 27.0% and 47.8% respectively. Gilbert has a success rate of 92.9% and is ranked #111 out of 3577 analysts, while Koffler has a success rate of 79.3% and is ranked #3.
Ligand Pharmaceuticals Incis a biopharmaceutical company with a business model that is based upon the concept of developing or acquiring royalty revenue generating assets and coupling them with a lean corporate cost structure.