Roth Keeps Ligand (LGND) at 'Buy' Following New Captisol-Based Tech Launch

Roth Capital affirms Ligand Pharmaceuticals (Nasdaq: LGND) with a Buy rating and target price of $92 following news that CURx has licensed Captisol-enabled Lamotrigine for use in epilepsy patients unable to take oral Lamotrigine.

Analyst Josephn Pantginis commented, We view this as further validation for the potential of the Captisol-based technology as well as for LGND's "shots on goal" business model. We believe this deal further solidifies the Captisol franchise and provides increased visibility to potentially trigger additional partnerships. Captisol material sales and royalty revenue from Captisol-Enabled (CE) products is expected to grow from both growth of existing products, such as Kyprolis, and more recent collaborations such as the one with Avion. We continue to expect continued growth out of Kyprolis and Promacta, which represent the current lead royalty revenue drivers, with incremental growth expected from Duavee starting shortly and CE-Melphalan next year. LGND's royalty revenue model continues to bear fruit, with multiple catalysts in sight.

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 $52.03 yesterday.

You May Also Be Interested In

• Ligand Pharma (LGND) PT Raised to $388 at BofA Securities
• HSBC Downgrades Samsonite International SA (1910:HK) (SMSEY) to Hold
• Life Insurance Corporation (LICI:IN) PT Raised to INR1,280 at ICICI Securities