Ligand Pharma (LGND) Gets a Buy Rating from H.C. Wainwright

By Carrie Williams

In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Ligand Pharma (LGNDResearch Report), with a price target of $214. The company’s shares closed yesterday at $123.86, close to its 52-week low of $98.56.

Pantginis wrote:

“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, Pantginis is a 1-star analyst with an average return of -1.2% and a 37.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Iovance Biotherapeutics Inc, and Checkpoint Therapeutics Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ligand Pharma with a $187.33 average price target, representing a 51.2% upside. In a report issued on May 3, Stephens also maintained a Buy rating on the stock with a $158 price target.

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Based on Ligand Pharma’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $666 million. In comparison, last year the company had a net profit of $45.28 million.

Based on the recent corporate insider activity of 49 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. Most recently, in March 2019, Matthew W. Foehr, the President & COO of LGND bought 14,894 shares for a total of $148,493.

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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.