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LGND

Ligand

$272.40

-1.8 (-0.66%)

, VKTX

Viking Therapeutics

$16.21

-1.21 (-6.95%)

07:20
10/02/18
10/02
07:20
10/02/18
07:20

Ligand price target raised to $280 from $270 at H.C. Wainwright

H.C. Wainwright analyst Joseph Pantginis raised his price target for Ligand Pharmaceuticals (LGND) to $280 after Viking Therapeutics (VKTX) and investigators presented updated VK5211 data in an oral plenary presentation at the American Society of Bone and Mineral Research meeting. VK5211 produces significant muscle growth in hip fracture patients and treated patients experienced overall weight gain, with loss of body fat, Pantginis tells investors in a research note. The analyst believes the chances for an outright acquisition of Viking has increased with VK2809 and VK5211 having the potential to address very large markets. He keeps a Buy rating on Ligand.

LGND

Ligand

$272.40

-1.8 (-0.66%)

VKTX

Viking Therapeutics

$16.21

-1.21 (-6.95%)

  • 17

    Oct

  • 06

    Nov

LGND Ligand
$272.40

-1.8 (-0.66%)

08/17/18
GSCO
08/17/18
INITIATION
Target $256
GSCO
Neutral
Ligand initiated with a Neutral at Goldman Sachs
Goldman Sachs analyst Dana Flanders initiated Ligand with a Neutral and $256 price target telling investors valuation reflects positive drivers and upcoming pipeline catalysts and additional M&A will be needed to support valuation.
08/17/18
08/17/18
INITIATION

On The Fly: Top five analyst initiations
Catch up on today's top five analyst initiations with this list compiled by The Fly: 1. Dare Bioscience (DARE) initiated with a Buy at Maxim. 2. WillScot (WSC) initiated with an Outperform at Credit Suisse. 3. Ligand (LGND) initiated with a Neutral at Goldman Sachs. 4. Cott Corp. (COT) initiated with an Action List Buy at TD Securities. 5. Azure Power (AZRE) initiated with a Buy at Janney Montgomery Scott. This list is just a portion of The Fly's analyst coverage. To see The Fly's full Street Research coverage, click here.
09/11/18
ARGS
09/11/18
NO CHANGE
Target $300
ARGS
Buy
Ligand price target raised to $300 from $260 at Argus
Argus analyst Jasper Hellweg raised his price target on Ligand Pharmaceuticals to $300 and kept his Buy rating, saying that valuation is more in line with the Price/Earnings to Growth industry average ratio of 1.7-times. The analyst notes that the company is "on track" to post solid earnings growth over the period of the next several years thanks to its primary products of Promacta for clotting and Kyprolis for melanoma. Hellweg adds that Ligand also offers a "strong pipeline of new products" having partnered with over 100 pharmaceutical and biotech companies, with over 170 programs under license or in clinical development at this time. The analyst further points to the company's "clean" balance sheet and a "promising" technical pattern of its stock price.
09/19/18
HCWC
09/19/18
NO CHANGE
Target $270
HCWC
Buy
Ligand price target raised to $270 from $257 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis raised his price target for Ligand Pharmaceuticals (LGND) to $270 after Viking Therapeutics (VKTX) announced that VK2809 Phase 2 data in nonalcoholic fatty liver disease and elevated LDL-cholesterol hit their endpoints "in a significant fashion." The analyst believes VK2809 represents an important value driver for Ligand. Currently, Ligand owns approximately 10.4% of Viking's shares outstanding and if approved, Ligand is also entitled to tiered royalties of 3.5%-7.5% of VK2809 sales, Pantginis tells investors in a research note partially titled "Viking, Value, and Ligand; a Nice Match." He keeps a Buy rating on Ligand.
VKTX Viking Therapeutics
$16.21

-1.21 (-6.95%)

09/19/18
HCWC
09/19/18
NO CHANGE
HCWC
H.C. Wainwright points out Viking is years behind Madrigal, Genfit
In interpreting and reacting to Viking Therapeutics' (VKTX) Phase II VK2809 data yesterday, the market has gotten ahead of itself, especially relative to Madrigal Pharmaceuticals (MDGL) and Genfit (GNFTF), H.C. Wainwright analyst Ed Arce tells investors in a research note. The analyst sees "several significant limitations" of the Viking study, including a small sample size that he says limits the reliability of results, the non-alcoholic fatty liver disease patient population, which he notes is not the same as nonalcoholic steatohepatitis, its LDL reductions being similar to other agents, and the analyst's belief that safety questions remain. Further, he reminds investors that Viking is still, "at best," three-to-four years behind Genfit and Madrigal. The VK2809 efficacy data look strong, but evaluating it by other compounds is comparing apples to oranges, Arce contends. The analyst continues to believe that Genfit's market valuation is "substantially below" its intrinsic value.
09/21/18
RAJA
09/21/18
NO CHANGE
Target $43
RAJA
Outperform
Raymond James says Viking volatility on GTx trial failure would be chance to buy
Raymond James analyst Steven Seedhouse would be a buyer on any volatility in Viking Therapeutics (VKTX) after GTx (GTXI) announced its Phase 2 ASTRID study testing enobosarm in women with SUI failed to achieve its primary endpoint. Viking has not ever tested VK5211 in SUI, but there had appeared to be solid early clinical and preclinical rationale for the indication, Seedhouse tells investors. Viking is not yet developing its SARM VK5211 in SUI and VK5211 is not in his model for either SUI or hip fracture recovery, so the failure of ASTRID really doesn't have immediate or direct negative readthrough to Viking, Seedhouse added. He maintains an Outperform rating and $43 price target on Viking shares, which are down 1% to $18.73 in early trading.
10/01/18
HCWC
10/01/18
NO CHANGE
Target $31
HCWC
Buy
Viking Therapeutics price target raised to $31 from $28 at H.C. Wainwright
H.C. Wainwright analyst Joseph Pantginis raised his price target for Viking Therapeutics to $31 after the company and investigators presented updated VK5211 data in an oral plenary presentation at the American Society of Bone and Mineral Research. The key takeaways from the VK5211 Phase 2 data in hip fracture patients include: VK5211 produces significant muscle growth in hip fracture patients, VK5211-treated patients experienced overall weight gain, the six-minute walk test demonstrated a trend favoring the treatment arms and the tolerability profile in elderly patients was encouraging with no treatment-emergent adverse events, Pantginis tells investors in a research note. The analyst keeps a Buy rating on Viking Therapeutics.
10/01/18
WBLR
10/01/18
NO CHANGE
WBLR
Outperform
Viking Therapeutics data increase partnership potential, says William Blair
Viking Therapeutics over the weekend at the American Society for Bone and Mineral Research annual meeting presented full data from the positive Phase II study with VK5211 for the treatment of patients recovering from hip fracture, William Blair analyst Andy Hsieh tells investors in a research note. While top-line results were released late last year, there were incrementally positive data points, including 6-minute walk test improvements and "intriguing" fat mass reduction, Hsieh writes. He believes the updated clinical profile bodes well for the partnership potential for VK5211 and eventual market uptake. The analyst continues to hold a bullish view on Viking Therapeutics shares with an Outperform rating.

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