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LGND

Ligand

$105.75

0.21 (0.20%)

, RTRX

Retrophin

$20.08

-1.31 (-6.12%)

07:32
11/21/16
11/21
07:32
11/21/16
07:32

Ligand says Retrophin reports added 'positive' data from study of sparsentan

Ligand Pharmaceuticals (LGND) reported that its partner Retrophin (RTRX) announced additional results from the Phase 2 DUET study of sparsentan for the treatment of focal segmental glomerulosclerosis, a rare kidney disorder without an FDA-approved pharmacologic treatment that often leads to end-stage renal disease. These new findings are being presented today in the late-breaking High-Impact Clinical Trials oral session at the American Society of Nephrology Kidney Week 2016 in Chicago. As announced in September, top-line data from DUET showed the sparsentan treatment group achieved statistical significance in the study's primary efficacy endpoint, reduction of proteinuria. These results showed a greater than two-fold reduction of proteinuria compared to irbesartan, after an eight-week, double-blind treatment period. An analysis of the secondary endpoint presented today showed that a significantly greater proportion of patients receiving sparsentan achieved modified partial remission of proteinuria, compared to irbesartan-treated patients. "These new results add to the growing body of evidence from the DUET study, reinforcing our confidence that sparsentan may represent a significant advancement in the treatment of FSGS," said Stephen Aselage, CEO of Retrophin.

LGND

Ligand

$105.75

0.21 (0.20%)

RTRX

Retrophin

$20.08

-1.31 (-6.12%)

  • 21

    Nov

LGND Ligand
$105.75

0.21 (0.20%)

09/07/16
09/07/16
UPGRADE

On The Fly: Top five analyst upgrades
Catch up on today's top five analyst upgrades with this list compiled by The Fly: 1. ConocoPhillips (COP) upgraded to Hold from Underperform at Jefferies with analyst Jason Gammel citing valuation and improving financial metrics. 2. DineEquity (DIN) upgraded to Overweight from Sector Weight at KeyBanc with analyst Chris O'Cull saying the stock has reached a good entry point, while its risk/reward ratio is "compelling." 3. Gaming and Leisure Properties (GLPI) upgraded to Overweight at Morgan Stanley. 4. Aviva (AV) upgraded to Buy from Neutral at UBS with the firm saying the company is positioned to be the risk-adjusted dividend leader in the sector. 5. Ligand (LGND) upgraded to Hold from Sell at Deutsche Bank. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
10/05/16
HCWC
10/05/16
NO CHANGE
Target $160
HCWC
Buy
Ligand price target raised to $160 from $146 at H.C. Wainwright
H.C. Wainwright analyst Carol Ann Werther raised her price target for Ligand Pharmaceuticals to $160 citing three recent positive events, namely positive Phase II focal segmental glomerulosclerosis data from partner Retrophin, the beginning of a Phase II clinical trial with LGD-6972 for the treatment of type 2 diabetes and the licensing of several therapeutic programs to Seelos. Werther keeps a Buy rating on Ligand.
10/10/16
ROTH
10/10/16
NO CHANGE
Target $154
ROTH
Buy
Ligand price target raised to $154 after Carnexiv approval at Roth Capital
Roth Capital analyst Joseph Pantginis raised his price target on Ligand to $154 from $150 after partner Lundbeck announced that the FDA approved Carnexiv injection as a short-term replacement therapy for oral carbamazepine formulations in adults with certain seizure types. Ligand will receive a $1.25M milestone payment this quarter and is entitled to receive a 2.75% royalty on sales of the drug, noted Pantginis, who keeps a Buy rating on Ligand shares.
11/07/16
SPHN
11/07/16
NO CHANGE
Target $125
SPHN
Overweight
Ligand price target lowered to $125 from $150 at Stephens
Stephens analyst Drew Jones lowered his price target for Ligand to $125 from $150 on valuation. The analyst notes that the company reported mixed Q3 results as revenue softness led to lowered guidance for the year. Nonetheless, he reiterates an Overweight rating on the shares.
RTRX Retrophin
$20.08

-1.31 (-6.12%)

09/07/16
ROTH
09/07/16
NO CHANGE
Target $151
ROTH
Buy
Ligand target raised to $151 after sparsentan data at Roth Capital
Roth Capital analyst Joseph Pantginis raised his price target for Ligand Pharmaceuticals (LGND) to $151 from $149 after the company's partner Retrophin (RTRX) announced positive data from the sparsentan Phase II study in focal segmental glomerulosclerosis patients. The analyst believes the data support a potential accelerated path forward and he reminds investors that FSGS has no approved therapies. Pantginis calls the data an important win for Ligand and Retrophin. He keeps a Buy rating on Ligand. The stock is up 7% to $115.21 in early trading.
09/07/16
LEER
09/07/16
NO CHANGE
LEER
Outperform
Retrophin price target raised to $32 from $27 at Leerink
Leerink analyst Joseph Schwartz said he is "very optimistic" that sparsentan will be approved after Retrophin announced top-line results for its Phase 2b DUET study. However, he thinks it is still unclear if the results reported today will be enough to support accelerated approval or if another clinical trial will be required. Schwartz raised his price target on Retrophin to $32 from $27 following the data release and keeps an Outperform rating on the shares.
09/08/16
BMOC
09/08/16
NO CHANGE
BMOC
Retrophin price target raised to $40 from $28 at BMO Capital
BMO Capital analyst Do Kim raised the price target on Retrophin after the company reported Phase II data for its Sparsentan drug that the analyst views positively. Kim now sees a 45% chance of success for the drug, up from 25% previously. The analyst keeps an Outperform rating on the shares.
11/11/16
LEER
11/11/16
NO CHANGE
LEER
Outperform
Retrophin agreement for RE-024 bodes well for approval in 2019, says Leerink
Leerink analyst Joseph Schwartz says that the trial design for Retrophin's pending Phase 3 trial of RE-024 and the announced agreement with the FDA under the Special Protocol Assessment process for this trial bode well for potential approval in 2019. The analyst believes the company plans to initiate this trial by the end of 2016, with a drug that has shown "great promise" for the treatment of pantothenate kinase-associated neurodegeneration. He reiterates an Outperform rating on the shares.

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