Roth Capital Affirms Ligand Pharma (LGND) at 'Buy' Following Initiation of LGD-6972 Phase 2 in T2D
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
Get access to the best calls on Wall Street with StreetInsider.com's Ratings Insider Elite. Get your Free Trial here.
Roth Capital affirms Ligand Pharmaceuticals (Nasdaq: LGND) at Buy with a price target of $151 after the company announced the initiation of a Phase 2 clinical trial with the Company’s glucagon receptor antagonist LGD-6972 for the treatment of type 2 diabetes mellitus (T2DM).
Analyst Joseph Pantginis commented today:
This study initiation is an important event for LGND, in our belief. It represents a new category of potential value drivers for the company. Since the company now has the financial resources, in can selectively move assets through a further stage of development. This should result in added de-risking of the program which could yield higher economic value to the company when/if outlicensed. At ADA 2015, LGND presented impressive data (in our belief) from a Phase Ib multiple ascending dose (MAD) data for LGD-6972. The detailed data are shown below, but this was a randomized, double-blind, placebocontrolled study where both healthy volunteers and type 2 diabetic patients saw increasing doses of the drug with a 14-day dosing period. Three doses were tested, 5, 10 and 15 mg and pharmacokinetic data support once per day dosing. 14-day data show a safe and well tolerated profile and importantly, no SAEs or treatment discontinuation. From an efficacy standpoint, '6972 lowered fasting plasma glucose throughout the 14-day period in a dose dependent fashion.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Galena Biopharma (GALE) PT Raised to $4 at Maxim Group into San Antonio Breast Cancer Symposium
- Pivotal Research Downgrades Kroger (KR) to Hold
- Brean Capital Cuts Price Target on G-III Apparel Group (GIII) Following 3Q Miss
Create E-mail Alert Related CategoriesAnalyst Comments, FDA
Related EntitiesRoth Capital
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!