McNicoll, Lewis & Vlak Maintains Buy Rating and $30 PT on Ligand Pharmaceuticals

A report from MLV & Co reiterates its Buy rating and $30 price target on Ligand Pharmaceuticals (NASDAQ: LGND).

The report states, “During an AASLD Late-Breaker, Nazam Afdhal, M.D., presented the final results of the ENABLE 1 study and the preliminary results of the ENABLE 2 study. Our first-hand attendance at AASLD and the Expert Physician Panel we hosted immediately following the presentation suggests Promacta will be filed, approved, and generate substantial revenue. Net-net, our take-away from the physicians is that Promacta has an acceptable risk/benefit profile.”

LGND closed yesterday at $10.92.