Ligand Pharmaceuticals IncorporatedNASDAQ
Tue, Sep. 27, 12:52 PM
Tue, Sep. 27, 11:32 AM
- Ligand Pharmaceuticals (LGND -9.3%) gets some rude treatment by the market in early trading. Shares are down on more than double normal volume in apparent response to the failure of Amgen's (AMGN -1.1%) Phase 3 study of a combination regimen including KYPROLIS (carfilzomib) for the treatment of certain multiple myeloma patients.
- Investors may be a bit premature on their perception that sales of KYPROLIS will be hampered by the negative results considering the company's statement that the standard-of-care for newly diagnosed multiple myeloma has moved away from the chemo agent melphalan, which was a component of the combo regimens investigated in the study. The long-term trial commenced in March 2013.
- Ligand receives sales-based royalties from 1.5 - 3.0% from KYPROLIS. In the most recent four quarters, Amgen booked $611M in sales for the drug which translated to a 2.5% royalty for Ligand or ~$15.3M, almost 21% of the company's revenues over the same time frame.
Tue, Sep. 27, 11:00 AM
Thu, Sep. 22, 9:30 AM
- Ligand Pharmaceuticals (NASDAQ:LGND) out-licenses four development programs to newly formed Seelos Therapeutics, including its aplindore program for various central nervous system (CNS) disorders, a CRTH2 antagonist program for respiratory disorders, a Captisol-enabled acetaminophen program for pain and fever management and an H3 receptor antagonist program for narcolepsy.
- Under the terms of the agreement, Ligand will receive an upfront payment of $1.3M in cash or Seelos equity after Seelos completes a financing round of at least $7.5M, an additional $3.5M if Seelos becomes a public company and up to $145M in milestones. Ligand will also be eligible to receive sales-based royalties of 4 - 10%. Seelos is responsible for all development activities.
- The company has also entered into a supply agreement for Captisol. Contingent on certain conditions, Ligand will extend a three-year convertible loan facility to Seelos for up to $500K.
Fri, Sep. 9, 9:59 AM
- Eli Lilly (NYSE:LLY) upgraded to Overweight from Neutral by JPMorgan. Price target raised to $95 (20% upside) from $92.
- Ligand Pharmaceuticals (NASDAQ:LGND) upgraded to Hold from Sell by Deutsche Bank. Price target raised to $110 (2% downside risk) from $105.
- Gilead Sciences (NASDAQ:GILD) upgraded to Buy from Hold by Jefferies. Price target raised to $91 (16% upside). Morgan Stanley rates it Hold with a price target of $100 (27% upside).
- Teva Pharmaceutical Industries (NASDAQ:TEVA) upgraded to Outperform from Market Perform with a $66 price target by Oppenheimer.
- Novo Nordisk (NYSE:NVO) downgraded to Neutral from Overweight by JPMorgan.
- AbbVie (NYSE:ABBV) downgraded to Neutral from Overweight with a $73 (14% upside) price target by JPMorgan.
- Cepheid (NASDAQ:CPHD) downgraded to Neutral from Buy by BTIG Research.
- Tonix Pharmaceuticals (NASDAQ:TNXP) downgraded to Neutral from Buy by Roth Capital.
- Momenta Pharmaceuticals (NASDAQ:MNTA) downgraded to Sell from Hold with a $6 (48% downside risk) price target by Maxim Group.
- Biogen (NASDAQ:BIIB) downgraded to Hold from Buy with a $323 (7% upside) price target by Jefferies.
- Centene (NYSE:CNC) downgraded to Market Perform from Outperform with an $80 (19% upside) price target by Leerink Swann. Wedbush rates it Outperform with an $85 (26% upside) price target.
Thu, Aug. 4, 8:01 AM
Wed, Aug. 3, 5:30 PM
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Wed, May 4, 10:37 AM
- Ligand Pharmaceuticals (LGND -0.1%) Q1 results: Revenues: $29.6M (+102.7%); R&D Expense: $4M (+17.6%); SG&A: $6.8M (+13.3%); Operating Income: $15.1M (+357.6%); Net Income: $5.9M; EPS: $0.26 (+550.0%); Non-GAAP EPS: $0.97 (+193.9%); Quick Assets: $113.2M (-43.5%).
- 2016 Guidance: Revenues: $115M - 119M; Adjusted EPS: $3.41 - 3.46.
- 2017 Guidance: Revenues: >$160M; Adjusted EPS: >$5.03.
Wed, May 4, 7:09 AM
- Ligand Pharmaceuticals (NASDAQ:LGND) purchases the economic rights to multiple programs from privately-held CorMatrix for $17.5M. The deal includes synthetic royalties from sales of CorMatrix's currently marketed portfolio of vascular, cardiac and pericardial tissue repair products as well as its CanGaroo ECM Envelope for cardiac implantable electronic devices. Ligand also has the potential to earn mid-single digit royalties from CorMatrix's development-stage Micronized ECM product and replacement valve products.
- CorMatrix's offerings, designed to permit the development and regrowth of human tissue, enables Ligand to enter into the medical device space.
- The transaction will be immediately accretive, adding $1M in revenue this year and ~$0.04 to non-GAAP EPS. Ligand will not incur any expenses to develop or commercialize the products. The amounts Ligand will record as revenue will reflect deductions for deal amortization as an offset.
Wed, May 4, 6:04 AM
- Ligand Pharmaceuticals (NASDAQ:LGND): Q1 EPS of $0.97 beats by $0.30.
- Revenue of $29.65M (+103.1% Y/Y) beats by $3.2M.
Tue, May 3, 5:30 PM
- AFAM, ARCC, ARCO, ARQL, ASC, ATRO, AVA, AYR, BDC, BUD, CDW, CHH, CLH, CPK, CRK, CRL, CRTO, CRZO, CSTE, D, DLPH, DNOW, ECYT, EE, ENR, FUN, GEL, GNRC, GTE, HAIN, HE, HFC, HSC, HSNI, HTWR, HYH, ICE, INXN, IONS, IRT, KATE, KLIC, LGND, MEMP, MFA, MMP, MOS, MPW, MTOR, NBL, NGS, NJR, NRZ, NVMI, NXTM, OMF, ONCE, ORBK, PCG, PCLN, RDC, RDS.A, SBGI, SCMP, SE, SERV, SHOP, SMP, SPAR, SR, SRE, SSTK, STRA, TGH, TGI, TMHC, TREE, TWX, VIRT, VOYA, VSI, WD, WIX, ZTS
Sun, Apr. 24, 6:13 PM
- via Credit Suisse, in order of # of small-cap funds who own the stock. Following the stock is the number of funds who own it, and the change vs. previous quarter:
- IDTI - Integrated Device Tech 96 | 14
- MSCC - Microsemi 86 | 10
- MANH - Manhattan Associates 85 | 5
- CBM - Cambrex 80 | 4
- EEFT - Euronet Worldwide 80 | 8
- POR - Portland General Electric 79 | 0
- EME - Emcore 78 | 6
- LAD - Lithia Motors 78 | 6
- AMSG - Amsurg 78 | 0
- JCOM - J2 Global 77 | 4
- PFPT - Proofpoint 77 | 4
- AHS - AMN Healthcare 74 | 2
- EXPR - Express Inc. 74 | 3
- ICUI - ICU Medical 73 | 0
- LGND - Ligand Pharma 73 | 6
- PVTB - Privatebancorp 73 | -2
- PRXL - Parexel 72 | 5
- AEL - Americal Equity Investment Life 71 | 3
- TYL - Tyler Technologies 71 | 7
- CRZO - Carrizo Oil & Gas 69 | 3
- MENT - Mentor Graphics 69 | -9
- MNRO - Monro Muffler Brake 68 | 0
- WAL - Western Alliance Bancorp 68 | 8
- AEO - American Eagle Outfitters 67 | 0
- LOGM - Logmein 67 | -1
- OZRK - Bank of the Ozarks 67 | 5
- SHOO - Steven Madden 67 | -10
- STE - Steris 67 | 20
- WNC - Wabash National 67 | -1
- Credit Suisse recommends reducing exposure in small-cap "darlings" due to less opportunity for differentiation; historical underperformance; and outflows.
Wed, Apr. 20, 7:42 AM
- Micro cap Spectrum Pharmaceuticals (NASDAQ:SPPI) is up 6% premarket, albeit on only 388 shares, in response to its announcement that the FDA has granted seven years of market exclusivity, as provided under Orphan Drug status, for EVOMELA (melphalan) for use as a high-dose conditioning treatment prior to hematopoietic stem cell transplantation in multiple myeloma patients. The product was approved last month.
- The company acquired the global rights to the product from Ligand Pharmaceuticals (NASDAQ:LGND) in March 2013. The estimated market opportunity in the U.S. is ~$100M.
- Previously: FDA clears Spectrum's Evomela (March 15)
Fri, Mar. 4, 9:00 AM
- Regeneron Pharmaceuticals (NASDAQ:REGN) initiated with Neutral rating and $450 (12% upside) price target by SunTrust Robinson Humphrey.
- GW Pharmaceuticals (NASDAQ:GWPH) initiated with Sell rating and implied price target of $30 (22% downside risk) price target by Numis Securities.
- Ardelyx (NASDAQ:ARDX) initiated with Buy rating and $15 (50% upside) price target by Citigroup.
- Seres Therapeutics (NASDAQ:MCRB) initiated with Buy rating and $41 (52% upside) price target by Guggenheim Securities.
- Seattle Genetics (NASDAQ:SGEN) initiated with Neutral rating and $34 (6% upside) price target by SunTrust Robinson Humphrey.
- Ligand Pharmaceuticals (NASDAQ:LGND) initiated with Buy rating and $146 (49% upside) price target by H.C. Wainwright.
- Agios Pharmaceuticals (NASDAQ:AGIO) initiated with Neutral rating and $43 (0% upside) price target by Janney Capital.
- Infinity Pharmaceuticals (NASDAQ:INFI) initiated with Outperform rating and $15 (127% upside) price target by FBR Capital.
- Trevena (NASDAQ:TRVN) initiated with Buy rating and $18 (104% upside) price target by WallachBeth.
- Bruker (NASDAQ:BRKR) initiated with Overweight rating and $30 (7% upside) price target by Barclays.
- Bluebird bio (NASDAQ:BLUE) initiated with Buy rating and $72 (33% upside) price target by BTIG Research.
- Aimmune Therapeutics (NASDAQ:AIMT) initiated with Outperform rating and $42 (135% upside) price target by Wedbush.
- Juniper Pharmaceuticals (NASDAQ:JNP) initiated with Buy rating and $18 (137% upside) price target by H.C. Wainwright.
- Celldex Therapeutics (NASDAQ:CLDX) initiated with Buy rating and $25 (203% upside) price target by H.C. Wainwright.
Wed, Feb. 10, 4:05 PM
- Ligand Pharmaceuticals (NASDAQ:LGND): Q4 EPS of $0.66 beats by $0.01.
- Revenue of $21.2M (-7.8% Y/Y) misses by $3.77M.
Tue, Feb. 9, 5:35 PM
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