Ligand price target raised to $110 from $95 at Benchmark

Benchmark analyst Robert Wasserman raised the firm’s price target on Ligand to $110 from $95 and keeps a Buy rating on the shares. Ligand reported positive financial results for Q2, with revenue growth led by an 11% increase in royalties, due primarily to increased sales of Filspari and Kyprolis, a 44% increase in Captisol sales, and three milestone payments for FDA or European approvals of partnered drugs, the analyst tells investors in a research note.