RBC Capital raised the firm’s price target on Ligand (LGND) to $252 from $235 and keeps an Outperform rating on the shares. The company’s acquisition of Xoma is a strong strategic fit, adding seven marketed products and nearly doubling its portfolio of Phase 2 and 3 assets in a single transaction, the analyst tells investors in a research note. Ligand also anticipates the deal to be immediately accretive to adjusted EPS, the firm added.
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