Ligand price target raised to $90 from $85 at Roth Capital

Roth Capital analyst Scott Henry raised the firm’s price target on Ligand to $90 from $85 and keeps a Buy rating on the shares following the analyst day and recent positive pipeline updates. Henry believes that the 2023 royalty guidance could prove conservative and that there are multiple positive pipeline updates, and thinks that a key catalyst remains the Sparsentan PDUFA date on February 17, the analyst tells investors in a research note.