RBC Capital analyst Douglas Miehm maintains $Ligand Pharmaceuticals (LGND.US)$ with a buy rating, and adjusts the target price from $130 to $140.
According to TipRanks data, the analyst has a success rate of 44.7% and a total average return of 1.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Ligand Pharmaceuticals (LGND.US)$'s main analysts recently are as follows:
The company's positive financial performance is reflected in its latest 'beat and raise' quarter, showcasing strength across its three principal revenue channels.
Ligand's third-quarter performance surpassed expectations with strong top-line results, and the company has uplifted its full-year 2024 revenue projection to the $160-165 million range. This estimate is seen as cautious by analysts, considering the robustness of royalty assets, coupled with the acceleration of early launches and the possibility of expanding the use of indications.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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