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Fly News Breaks for February 15, 2017
MERK, LGND
Feb 15, 2017 | 09:27 EDT
Stephens analyst Drew Jones says that there could be some initial weakness in Ligand's (LGND) shares due to the negative headline associated with Merck (MRK) stopping one of the trials for its BACE inhibitor, but expects this to be short lived. The analyst says the success with Merck's BACE inhibitor is not a part of his positive thesis as he continue to see multiple potential commercial, clinical, and regulatory catalysts for Ligand throughout 2017. He reiterates an Overweight rating and $125 price target on Ligand's shares.
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