Cantor Fitzgerald Reiterate Hold Following Ligand Pharma's (LGND) Strong Q1

Cantor Fitzgerald reiterate a Hold rating on Ligand Pharma (NASDAQ: LGND), and raise the price target to $86.00 (from $82.00), following a strong 1Q. LGND reported revenues of $14.6M, and an adjusted non-GAAP EPS of $0.33. Coming out ahead of FactSet consensus of $13.5M revenue and $0.27 EPS. LGND also introduced 2Q:15 guidance of $0.37-0.40 EPS, and $17.0-17.5M in revenue which came in above consensus expectations of $16.4M.

Cantor Fitzgerald analyst, Irina Koffler, commented on their views for LGND, saying, "We are raising our price target by four dollars to credit the company for royalties associated with a single Phase I asset from its newly acquired Selexis portfolio (for $4M), operational leverage, and cash on the balance sheet."

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 $84.14 yesterday.

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