Ligand Pharma (LGND) PT Lifted to $127 at Roth Capital Following Q1 and as Pipeline Expands

Roth Capital analyst Joseph Pantginis reiterated a Buy rating and boosted his price target on Ligand Pharma (NASDAQ: LGND) to $127.00 (from $116.00) following Q1 results.

LGND reported non-GAAP EPS of $0.33 vs. consensus of $0.27. LGND reported total revenues of $14.602 million vs. our estimate of $13.48 million and consensus estimate of $13.53 million.

Pantginis commented, "We continue to be impressed with Ligand's growth and expansive planning for the future. Driving the current opportunity continues to be Promacta and Kyprolis with expected label expansions this year including: 1) pediatric ITP NDA and MAA approvals in 2H15 for Promacta, 2) SAA MAA approval projected for 4Q15 for Promacta, and 3) July 26 PDUFA for expanding label for Kyprolis. Kyprolis 1Q15 revenue came in at $108 million."

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

Shares of Ligand Pharma closed at $80.51 yesterday.

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