Promising Developments and Revenue Prospects Reinforce Buy Rating for Ligand Pharma
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Analyst Joseph Pantginis from H.C. Wainwright reiterated a Buy rating for Ligand Pharma, maintaining a price target of $231.00. The rating is supported by promising developments with Ligand's partner Palvella and their QTORIN Rapamycin product, which shows potential in treating cutaneous venous malformations. Positive Phase 2 data and potential Breakthrough Therapy Designation could enhance Ligand's royalty prospects, contributing to revenue growth. Benchmark Co. also maintained a Buy rating with a $220.00 price target.
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