Ligand price target raised to $143 from $141 at RBC Capital

RBC Capital raised the firm’s price target on Ligand (LGND) to $143 from $141 and keeps an Outperform rating on the shares. The company has accumulated a diverse set of royalty generating assets along with the Captisol technology platform and currently has 12 major commercial-stage royalty streams and more than 90 additional active programs with economic rights, the analyst tells investors in a research note. Ligand’s strong free cash flow generation allows it to comfortably make future royalty acquisitions without relying on external capital, the firm added.