H.C. Wainwright reiterates a Buy rating on Ligand Pharmaceuticals with a $144 price target after the company acquired Apeiron Biologics AG for $100M in cash. The firm is “please” with the transaction, saying it provides an immediate accretive boost to Ligand’s revenue of approximately $20M per year with the addition of Qarziba royalties. It says the deal brings “nice uptick” to Ligand’s current royalties.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on LGND:
- Ligand Pharma Expands Portfolio with APEIRON Acquisition and Investment
- Ligand earns $5.8M milestone payment following FDA approval of Ohtuvayre
- Ligand collaborator Merck receives FDA approval for CAPVAXIVE
- Ligand Pharma Enhances Stock Incentive Plan and Management
- Biotech Alert: Searches spiking for these stocks today