In a report released today, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Ligand Pharma, with a price target of $157.00.
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Joseph Pantginis has given his Buy rating due to a combination of factors including Ligand Pharma’s strong financial performance and strategic positioning. The company reported robust second-quarter results, with GAAP EPS exceeding expectations, and demonstrated consistent revenue growth driven by royalties, which provide a stable income stream.
Furthermore, Ligand Pharma has raised its financial guidance, indicating confidence in its future performance. The company also possesses significant financial leverage with $245 million in cash and a $200 million credit facility, enabling it to pursue strategic acquisitions and investments. These elements collectively contribute to Pantginis’s positive outlook on Ligand Pharma’s stock.
Pantginis covers the Healthcare sector, focusing on stocks such as Krystal Biotech, Esperion, and Capricor Therapeutics. According to TipRanks, Pantginis has an average return of -14.3% and a 34.96% success rate on recommended stocks.