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LGND

Ligand

$222.00

1.58 (0.72%)

10:59
07/13/18
07/13
10:59
07/13/18
10:59

Lemelson CIO calls on Congress to probe SEC failure to prosecute Ligand

Rev. Fr. Emmanuel Lemelson, the CIO of Lemelson Capital Management, LLC, a U.S.-based global Investment management firm, released a letter he has provided members of The U.S. House Committee on Oversight and Government Reform, U.S. House of Representatives Financial Services Committee, The U.S. Senate Committee on Banking, Housing, & Urban Affairs, The U.S. Senate Special Committee on Aging and the SEC Office of the Inspector General, outlining extensive alleged accounting, and securities fraud and abuse of federal and state healthcare laws by Ligand Pharmaceuticals, a U.S.-based publicly-traded pharmaceutical company. In the letter, Lemelson urged the Committees in both the House and the Senate to commence an investigation into these alleged abuses, as well as the Securities and Exchange Commissions "failure to stop them despite being provided abundant evidence of the alleged fraud spanning multiple years - failures he likens to the Commission's botched Enron and Madoff investigations that allowed these frauds to cost investors and the American taxpayers dearly." "We believe the greatest risk investors in Ligand face is the company may be excluded from government healthcare programs, found in violation of government regulations and face civil and criminal penalties that could result in imprisonment," Lemelson said. "It is inexplicable why the SEC has failed to act, given all of the disturbing developments that have been charted. Protecting the American investor and taxpayer, not to mention the sick who need reliable, affordable access to lifesaving medications must be a priority over fostering cozy relationships with Wall Street," Lemelson said.

  • 06

    Aug

LGND Ligand
$222.00

1.58 (0.72%)

04/19/18
HCWC
04/19/18
NO CHANGE
Target $182
HCWC
Buy
H.C. Wainwright reiterates Buy on Ligand after Novartis reports Q1
H.C. Wainwright analyst Joseph Pantginis says the Promacta franchise remains strong after Ligand Pharmaceuticals (LGND) partner Novartis (NVS) reported Q1 sales Promacta revenue of $257M. The analyst projects 2018 is the year that Promacta officially reaches blockbuster status, or $1B in sales. Further, he points out that Retrophin (RTRX), another Ligand partner, earlier this month announced that the first patient has been enrolled into the Phase 3 Duplex study using sparsentan to treat patients with focal segmental glomerulosclerosis. Pantginis is encouraged by the start of the Phase 3 saying it has the potential to lock in a fixed 9% royalty to Ligand, if approved. He currently project peak sales of $825M but feels the drug could reach blockbuster status based on its first-to-market status. Pantginis keeps a Buy rating on Ligand Pharmaceuticals with a $182 price target.
06/21/18
ARGS
06/21/18
INITIATION
Target $260
ARGS
Buy
Ligand initiated with a Buy at Argus
Argus analyst Mike Jaffe initiated Ligand Pharmaceuticals with a Buy rating and a price target of $260, saying the company is on track to generate solid earnings growth over the next several years thanks to its primary products - Promacta with use in blood clotting and Kyprolis for treatment of multiple myeloma. Jaffe adds that the company also has a "strong pipeline", with over half of its 165 programs under license currently in the clinical development or later stage. The analyst is also positive on Ligand's valuation at a PEG ratio of 1.2-times, which is "well below" the peer biotech industry average of 1.8-times.
06/27/18
CHLM
06/27/18
NO CHANGE
Target $230
CHLM
Buy
Ligand price target raised to $230 from $200 at Craig-Hallum
Craig-Hallum analyst Matt Hewitt raised his price target for Ligand to $230 from $200 following the company's announcement that WuXi Biologics has amended its license agreement for the OmniAb platform and has made a cash payment of $47M to Ligand. The analyst continues to believe that Ligand is a unique asset geared to provide investors with excellent earnings growth over the next several years as it layers in additional commercial assets from its extensive partnered pipeline. He reiterates a Buy rating on the shares.
06/28/18
HCWC
06/28/18
NO CHANGE
Target $239
HCWC
Buy
Ligand price target raised to $239 from $182 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis raised his price target for Ligand Pharmaceuticals to $239 after the company amended its OmniAb agreement with WuXi Biologics and received a $47M payment. With its "coffers overflowing" with cash, the analyst expects Ligand's "strategic shopping should ramp up even more." Further, the company could also be highly selective in bringing additional internal pipeline assets forward, such as CE-Iohexol, expected to enter the clinic late 2018, Pantginis tells investors in a research note. He maintains a Buy rating on Ligand.

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ANTM

Anthem

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