Yahoo Finance

Oppenheimer raised the firm’s price target on Ligand (LGND) to $151 from $135 and keeps an Outperform rating on the shares following the company’s investor day. Key takeaways, the firm says, include capital needs within biotech/biopharma remain massive; investments will continue to be selective, and lean on their expertise; Zelsuvmi opportunity remains underappreciated; further levers of potential value creation exist with an emphasis on Captisol sales growth; and Captisol/Nitricil platform value.

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Read More on LGND:

• Ligand provides updated five-year outlook

• Ligand backs FY24 adjusted EPS view $5.50-$5.70, consensus $5.65

• Ligand sees FY25 EPS $6.00-$6.25, consensus $6.03

• Ligand to hold investor and analyst day

• Ligand price target raised to $141 from $140 at RBC Capital