Roth Still Bullish on Ligand Pharma (LGND) Following NOXAFIL Approval (MRK)

Roth Capital reiterated its Buy rating and $92 price target on Ligand Pharmaceuticals (Nasdaq: LGND) following FDA approval of Captisol-enabled NOXAFIL (produced by partner Merck & Co. (NYSE: MRK)). Ligand Pharma will sell Capitsol to Merck for this formulation under a commercial supply agreement.

Analyst Joseph Pantginis commented, We recommend steady accumulation of Ligand Pharma shares, as we anticipate that current revenue streams from partnered products and the broad "in development" portfolio are poised to drive significant growth in the near and longer term.

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

Ligand Pharma closed at $76.95 yesterday.

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