Ligand Pharmaceuticals IncorporatedNASDAQ: LGND

JUPITER, Fla.--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced that its collaborator Merck, known as MSD outside the United States and Canada, has received approval from the U.S. Food and Drug Administration (FDA) for CAPVAXIVE™, previously known as V116, a 21-valent pneumococcal conjugate vaccine for the prevention of invasive pneumococcal disease and pneumococcal pneumonia in the adult population. The indication for pneumococcal pneumonia is under accelerat.

Ligand (LGND) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).

Ligand (LGND) reported earnings 30 days ago. What's next for the stock?

The average of price targets set by Wall Street analysts indicates a potential upside of 32.3% in Ligand (LGND). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.

Ligand (LGND) could be a solid choice for shorter-term investors looking to capitalize on the recent price trend in fundamentally sound stocks. It is one of the many stocks that passed through our shorter-term trading strategy-based screen.

JUPITER, Fla.--(BUSINESS WIRE)--Ligand Pharmaceuticals Incorporated (Nasdaq: LGND) today announced that Todd Davis (Chief Executive Officer) and Tavo Espinoza (Chief Financial Officer) will participate in the following upcoming investor conferences: Craig-Hallum Institutional Investor Conference (Minneapolis). Management will participate in one-on-one meetings on May 29, 2024. Goldman Sachs Global Healthcare Conference (Miami). Management will present on June 12, 2024 at 4:00 p.m. ET. Managemen.

There is increasing optimism about Ligand's earnings potential, leading to its upgrade to a Zacks Rank #1 (Strong Buy) and potential for higher movement in the stock.

Royalty aggregators such as Royalty Pharma, Ligand, and XOMA are becoming increasingly popular in the biotech sector. They acquire royalty rights to pharmaceutical products from biotech companies, offering them immediate cash in exchange. This arrangement enables biotech firms to secure funding for research and development, while the aggregators profit from their investment.

The average price targets from analysts on Wall Street suggest a possible increase of 45.6% in Ligand (LGND). Though the reliability of this metric is uncertain, the optimistic trend in earnings estimates could lead to a rise in the stock.