H.C. Wainwright analyst Joseph Pantginis raised his price target for Ligand Pharmaceuticals to $257 after the company announced the acquisition of Vernalis for $43M. The transaction brings in over eight fully-funded partnered programs at various stages of development, ranging from approved to pre-clinical, as well as an established library and unpartnered programs in various disease areas, Pantginis tells investors in a research note. He reiterates a Buy rating on Ligand.
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