MLV & Co Affirms Ligand Pharmaceuticals Buy, $30 PT

MLV & Co affirms its Buy rating and $30 price target on Ligand Pharmaceuticals LGND following the company's earnings results in a research report out today. In the report, MLV & Co writes, "On February 8, after market close, LGND reported a net gain in 4Q:11 of $4.8M and EPS of $0.24. Total revenues in the quarter were $12.9M, due mostly to a (nonrecurring) 70% increase in material sales driven, in part, by 4Q:11 Captisol® license and supply agreements with SAGE Therapeutics, Eli Lilly & Co (LLY, Not Covered) and Hospira (HSP, Not Covered)." Shares of Ligand Pharmaceuticals closed today at $14.27, up 2.44% from yesterday's market close.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorPrice TargetAnalyst RatingsBiotechnologyHealth Care
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!