Citi ups Ligand target, opens ‘upside 90-day catalyst watch’

Citi raised the firm’s price target on Ligand (LGND) to $276 from $270 and keeps a Buy rating on the shares. Citi also added an “upside 90-day catalyst watch” on Ligand. The firm expects Travere (TVTX) to gain FDA approval on or before the action date of April 13. Ligand shares are not fulling reflecting upside from potential focal segmental glomerulosclerosis revenue, the analyst tells investors in a research note.