Ligand Pharma (LGND – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst today. Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on the stock and has a $157.00 price target.
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Joseph Pantginis has given his Buy rating due to a combination of factors including Ligand Pharma’s impressive financial performance and strategic positioning. The company reported strong first-quarter results, with revenue components such as royalties, Captisol, and contract revenue exceeding estimates. Despite a one-time R&D charge affecting GAAP EPS, the overall revenue growth trajectory remains positive, particularly driven by stable royalty income.
Additionally, Ligand’s robust cash position, including a significant cash balance and a revolving credit facility, provides the company with ample financial flexibility to pursue new opportunities. The company’s strategic investments in royalty transactions and its portfolio of commercial state royalty assets further support its growth prospects. With upcoming monetization opportunities and a reaffirmed guidance for 2025, Pantginis sees a favorable outlook for Ligand Pharma, justifying the Buy rating.