Roth Affirms Ligand Pharma (LGND) at 'Buy' Following Strong Severe PPD Data from SAGE Therapeutics (SAGE)

Roth Capital affirms Ligand Pharmaceuticals (Nasdaq: LGND) with a Buy rating and $147 following positive SAGE-547 Phase 2 data from partner SAGE Therapeutics (Nasdaq: SAGE).

Analyst Joseph Pantginis commented, Ligand partner SAGE announced statistically significant top-line results from a Phase II study of SAGE-547 in severe postpartum depression (PPD). The primary endpoint was a significant reduction in the depression measure, HAM-D, vs. placebo at 60-hours (p=0.008). The statistically significant effect began at 12 hours with a similar magnitude seen at the 30-day follow-up. SAGE is now looking to develop both SAGE-547 and SAGE-217 for PPD following regulatory input. A key upcoming catalyst for SAGE/LGND is the top-line data from the Phase III STATUS study (under SPA) in 2H16 for super-refractory status epilepticus (SRSE). The primary endpoint for this study is the continued resolution of SE for 24 hours following wean of all 3rd-line agents and SAGE-547/placebo. Recall that Ligand is entitled to receive a 3% royalty on potential sales of '547.

For an analyst ratings summary and ratings history on Ligand Pharma click here. For more ratings news on Ligand Pharma click here.

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