- Barclays initiated coverage on Ligand Pharmaceuticals (NASDAQ:LGND) with an “Overweight” rating and a $345 price target.
- The biopharmaceutical company is strategically expanding its royalty portfolio through investments in innovative treatments, including cancer therapies with AvenCell Therapeutics and myopia treatment Ryjunea.
- With a potential upside of 15.37% from its current trading price and a market capitalization of approximately $5.99 billion, Ligand Pharmaceuticals demonstrates strong growth prospects in the biopharma sector.
Ligand Pharmaceuticals is a biopharmaceutical company that focuses on acquiring and developing assets that generate royalty revenues. The company’s business model involves investing in other drug developers in exchange for a share of future sales. Recently, the investment bank Barclays began its analysis of the company.
On September 25, 2026, Barclays analyst Glen Santangelo set a price target of $345 for LGND, as reported by StreetInsider. This target suggests a potential upside of 15.37% from the stock’s price of $299.04 at the time. The analyst also gave the stock an “Overweight” rating, which means they believe it will perform better than other stocks in its sector.
This positive outlook is supported by recent company activities. Ligand entered into a financing agreement with AvenCell Therapeutics, committing up to $41 million. This investment helps fund the development of new cancer therapies. In return, LGND will receive a mid-single-digit to low-double-digit royalty on future worldwide sales from AvenCell’s products, as highlighted by GlobeNewswire.
In another deal, LGND acquired a royalty interest in the drug Ryjunea for an upfront payment of $23 million, as highlighted by GlobeNewswire. Ryjunea is the first approved treatment in Europe to slow the progression of myopia, or nearsightedness, in children. This acquisition gives Ligand a tiered royalty on the drug’s sales in several regions.
Currently, LGND shares trade at $299.04, with a daily range between $296.37 and $303.41. Over the past year, the stock has traded from a low of $166.10 to a high of $326.63. The company has a market capitalization, or total value of all its shares, of approximately $5.99 billion.
