Stifel starts coverage on Ligand Pharma with 'buy'

Ligand Pharmaceuticals Incorporated

10/04/2025 15:13

** Stifel initiates coverage on drugmaker Ligand pharmaceuticals LGND.O with "buy" rating

** Brokerage sets PT at $143, representing 37.7% upside to stock's last close

** Says LGND acquired multiple experimental drugs from development-stage companies; adds co has more than 90 partnered commercial and development-stage programs for cancer, kidney disease, diabetes and other conditions

** Acquired drug candidates offer solid and predictable double-digit growth, brokerage says

** LGND is to launch its viral skin-infection treatment, Zelsuvmi, in mid-2025 after acquiring asset from bankruptcy; brokerage adds, "LGND holds one of the most diversified portfolios of royalty revenues"

    ** Royalty revenue is income from drugs that LGND does not make or sell itself, but earns percentage from sale through licensing deals

** Six of 6 brokerages rate stock "buy" or higher; their median PT is $143.5 - data compiled by LSEG

** Up to last close, stock has fallen 3.1% YTD

 (Reporting by Siddhi Mahatole)

 ((siddhi.mahatole@thomsonreuters.com))