Ligand Pharmaceuticals Bolsa (NASDAQ: LGND)

Ligand Pharmaceuticals (NASDAQ:LGND) Bolsa

LIGAND PHARMACEUTICALS

Ligand Pharmaceuticals

Ligand Pharmaceuticals Inc is a biopharmaceutical company focused on developing and acquiring technologies that aid in creating medicine. The company has partnerships and license agreements with various pharmaceutical and biotechnology companies. Ligand's business model is based on drug discovery, early-stage drug development, product reformulation, and partnerships. The company's revenue consists of three primary elements: royalties from commercialized products, license and milestone payments, and sale of its trademarked Captisol material.

Pelthos Therapeutics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTHS#NYSE">PTHS</a>) on Thursday announced the launch of Zelsuvmi (berdazimer) topical gel 10.3% for molluscum contagiosum (molluscum) in adults and pediatric patients <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">one year of age and older</a>.
Zelsuvmi received a Novel Drug designation from the U.S. Food and Drug Administration in January 2024 and is the first and only prescription therapy approved for use at home by patients, and caregivers to treat molluscum infections.
Molluscum contagiosum is a highly contagious viral skin condition that afflicts an estimated 16.7 million people, most of them children, with up to 6 million new incidents per year in the United States, the company said.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/04/44750854/analyst-sees-big-upside-in-ligands-capital-efficient-biotech-strategy" rel="noreferrer noopener">Analyst Sees Big Upside In Ligand's Capital-Efficient Biotech Strategy</a>
Zelsuvmi is a topical nitric oxide-releasing gel for molluscum at diagnosis. The once-daily prescription medication is effective, well-tolerated, and convenient for at-home or on-the-go application.
It can be used to treat infections on the body, including sensitive areas such as the face, groin, or underarms.
Zelsuvmi was studied in the largest randomized clinical trial for the treatment of molluscum.
In the 891-patient phase 3 study:
<ul class="wp-block-list">
<li>Nearly 33% of patients saw complete clearance of molluscum lesions, compared with 19.7% of patients who did not receive the active ingredient at the twelfth week.</li>
<li>For many patients, Zelsuvmi demonstrated results within two weeks.</li>
</ul>
"We are launching our ZelsuvmiGo patient support program, which we expect to help onboard patients seamlessly and provide resources for caregivers," said Sai Rangarao, Chief Commercial Officer at Pelthos.
"To ensure that Zelsuvmi reaches the people who need it quickly, we have hired 50 sales territory managers across the country to work with physicians who treat a high volume of patients with molluscum."
In April, Ligand Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) and Channel Therapeutics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHRO#NYSE">CHRO</a>) agreed to combine Ligand's wholly owned subsidiaries, Pelthos Therapeutics Inc. and LNHC, Inc. (collectively Pelthos), with CHRO Merger Sub Inc., a wholly <a target="_blank" href="https://www.benzinga.com/general/health-care/25/04/44858815/exclusive-ligand-subsidiary-pelthos-therapeutics-to-combine-with-channel-therapeutics-creating-pain-medicines-focused-entity" rel="noreferrer noopener">owned subsidiary of Channel</a>.
The merger was supported by $50 million in capital raised from a group of strategic investors led by Murchinson.
Under the merger agreement, Channel acquired 100% of Pelthos' issued and outstanding equity interests, changed its name to Pelthos Therapeutics, and started trading on the NYSE American exchange under the ticker PTHS.
Price Action: PTHS stock traded higher by 7.65% to $17.74 premarket at last check Thursday.
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LGND

PTHS

Pelthos Therapeutics Launches First At-Home Prescription Gel For Highly Contagious Skin Disease

Ligand Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) today announced that its partner Pelthos Therapeutics Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PTHS#NYSE">PTHS</a>) has commercially launched ZELSUVMI&#x2122; (berdazimer) topical gel 10.3%, the first and only FDA-approved at-home treatment for molluscum contagiosum. The Company has earned a $5 million milestone payment from Pelthos following the commercial launch of ZELSUVMI.
Following the completion of the merger between Pelthos Therapeutics and Channel Therapeutics in July 2025, Ligand now owns 56% of Pelthos. Additionally, under the terms of the license agreement with Pelthos, Ligand is entitled to a 13% royalty on worldwide sales of ZELSUVMI and up to an additional $5 million in commercial sales milestones.

Ligand Pharm's Partner Pelthos Therapeutics Commercially Launches ZELSUVMI Topical Gel 10.3%, FDA-Approved At-Home Treatment For Molluscum Contagiosum

U.S. stocks were higher, with the Dow Jones index gaining around 0.1% on Wednesday.
Shares of Verona Pharma plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNA#NASDAQ">VRNA</a>) rose sharply during Wednesday's session after Merck <a href="https://www.benzinga.com/m-a/25/07/46317822/merck-strikes-10-billion-deal-for-verona-secures-first-in-class-copd-drug">announced it will acquire the company in a $10 billion deal.</a>
Merck &amp; Co. agreed on Wednesday to acquire Verona Pharma for $107 per American Depository Share (ADS) for a total transaction value of approximately $10 billion. Each ADS represents eight ordinary shares of Verona Pharma.
Verona Pharma shares jumped 20.6% to $104.81 on Wednesday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul class="wp-block-list">
<li>Scage Future (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCAG#NASDAQ">SCAG</a>) jumped 55.4% to $6.53.</li>
<li>ProKidney Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PROK#NASDAQ">PROK</a>) gained 47.1% to $5.49, continuing its climb of over 500% during regular trading on Tuesday.</li>
<li>Akso Health Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AHG#NASDAQ">AHG</a>) rose 47% to $1.9200.</li>
<li>Rhythm Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RYTM#NASDAQ">RYTM</a>) gained 25.8% to $82.00 after the company announced topline results from its Phase 2 trial for Bivamelagon.</li>
<li>Plug Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLUG#NASDAQ">PLUG</a>) gained 20.4% to $1.7101. Plug Power announced Wednesday it has renewed and expanded a multi-year hydrogen supply agreement with a longtime U.S.-based industrial gas partner, extending their collaboration through 2030.</li>
<li>The AES Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AES#NYSE">AES</a>) rose 16.8% to $12.94 after Bloomberg reported the company is exploring options amid takeover interest.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) gained 15.2% to $27.98 after JP Morgan upgraded the stock from Neutral to Overweight and raised its price target from $18 to $33.</li>
<li>Precigen, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PGEN#NASDAQ">PGEN</a>) rose 15.2% to $1.96.</li>
<li>First Majestic Silver Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AG#NYSE">AG</a>) jumped 8.1% to $8.64. First Majestic produced 7.9 million AgEq ounces in the second quarter and raised its full-year outlook to 32.6 million on 76% surge in silver and strong gold output.</li>
<li>Grifols, S.A. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GRFS#NASDAQ">GRFS</a>) gained 7.7% to $9.69.</li>
<li>Metsera, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTSR#NASDAQ">MTSR</a>) rose 7.7% to $32.50.</li>
<li>Ligand Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) gained 7.6% to $123.94.</li>
<li>GeneDx Holdings Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WGS#NASDAQ">WGS</a>) rose 7.2% to $91.38. Piper Sandler analyst David Westenberg initiated coverage on GeneDx Holdings with an Overweight rating and announced a price target of $110.</li>
</ul>
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Verona Pharma, Rhythm Pharmaceuticals, AES And Other Big Stocks Moving Higher On Wednesday

Reported July 3, 2025: Pelthos Therapeutics 13D Filing Shows Ligand Pharmaceuticals Discloses 49.9% Stake As Of July 1, 2025

Oppenheimer analyst Trevor Allred maintains Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) with a Outperform and raises the price target from $142 to $145.

Price Target

Analyst Ratings

Oppenheimer Maintains Outperform on Ligand Pharmaceuticals, Raises Price Target to $145

Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) affirms FY2025 Adj EPS guidance from $6.00-$6.25 to $6.00-$6.25 vs $6.12 analyst estimate. Affirms FY2025 sales outlook from $180.00 million-$200.00 million to $180.00 million-$200.00 million vs $190.84 million estimate.

Guidance

Ligand Pharmaceuticals Affirms FY2025 Adj EPS Guidance of $6.00-$6.25 vs $6.12 Est; Affirms FY2025 Sales Guidance of $180.00M-$200.00M vs $190.84M Est

Earnings

Earnings Beats

Ligand Pharmaceuticals Q1 EPS $1.33 Beats $1.20 Estimate, Sales $45.33M Beat $38.70M Estimate

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Earnings Scheduled For May 8, 2025

U.S. stocks traded mostly lower midway through trading, with the Dow Jones index falling more than 450 points on Thursday.
The Dow traded down 1.20% to 39,191.93 while the NASDAQ fell 0.09% to 16,293.14. However, the S&amp;P 500 gained 0.30% to 5,291.42.
Check This Out: <a href="https://www.benzinga.com/trading-ideas/short-ideas/25/04/44836659/top-3-industrials-stocks-that-may-plunge-this-month">Top 3 Industrials Stocks That May Plunge This Month</a>
Leading and Lagging Sectors Energy shares surged by 2.5% on Thursday.
In trading on Thursday, information technology shares fell by 0.9%.
Top Headline
D.R. Horton, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DHI#NYSE">DHI</a>) reported worse-than-expected second-quarter results and lowered its FY25 guidance.
Sales fell 15% year-over-year (Y/Y) to $7.73 billion, missing the consensus of $8.03 billion. EPS was $2.58, missing the consensus of $2.67. Net sales orders fell 15% Y/Y to 22,437 homes and decreased 17% Y/Y in value to $8.4 billion.
D.R. Horton revised its FY25 revenue guidance to $33.3 billion-$34.8 billion (from $36.0 billion – $37.5 billion) versus the consensus of $36.4 billion.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Baijiayun Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTC#NASDAQ">RTC</a>) shares shot up 60% to $0.3447 after the company announced it formed a partnership with Xinlantian to combine their AI video and large language model technologies with expertise in autism rehabilitation.</li>
<li>Shares of Adagio Medical Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADGM#NASDAQ">ADGM</a>)got a boost, surging 138% to $2.0792 after the FDA granted Breakthrough Device Designation for the vCLAS cryoablation system.</li>
<li>Channel Therapeutics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHRO#NYSE">CHRO</a>) shares were also up, gaining 52% to $1.9080. Ligand Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) and Channel Therapeutics on Thursday signed a definitive merger agreement to combine Ligand's wholly owned subsidiaries, Pelthos Therapeutics Inc. and LNHC, Inc. (collectively Pelthos) with CHRO Merger Sub Inc., a wholly owned subsidiary of Channel.</li>
</ul>
Equities Trading DOWN
<ul>
<li>UnitedHealth Group Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>) shares dropped 22% to $456.68 after the company reported worse-than-expected first-quarter results and cut its FY25 adjusted EPS guidance below estimates.</li>
<li>Shares of CaliberCos Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWD#NASDAQ">CWD</a>) were down 29% to $0.3200 as the company announced the pricing of the public offering units.</li>
<li>Global Payments Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) was down, falling 18% to $69.07 after the company announced it bought a stake in Worldpay for $6.6 billion.</li>
</ul>
Commodities In commodity news, oil traded up 1.6% to $63.47 while gold traded down 1.2% at $3,305.90.
Silver traded down 2.4% to $32.200 on Thursday, while copper fell 1.3% to $4.6255.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.29%, Germany's DAX 40 declined 0.64% and France's CAC 40 dipped 0.76%. Spain's IBEX 35 Index slipped 0.23%, while London's FTSE 100 fell 0.18%.
Asia Pacific Markets
Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 1.35%, China's Shanghai Composite gaining 0.13%, Hong Kong's Gang Seng index gaining 1.61% and India's BSE Sensex gaining 1.96%.
Economics
<ul>
<li>U.S. housing starts dipped 11.4% month-over-month to an annualized rate of 1.324 million in March.</li>
<li>U.S. initial jobless claims declined by 9,000 from the previous week to 215,000 during the second week of April, versus market estimates of 225,000.</li>
<li>The Philadelphia Fed Manufacturing Index fell 39 points to a reading of -26.4 in April, and down from market estimates of 2.</li>
<li>U.S. building permits climbed by 1.6% to an annualized rate of 1.482 million in March.</li>
<li>U.S. natural-gas stocks rose 16 billion cubic feet in the week ending April 11, compared to market estimates of a 24 billion cubic feet gain.</li>
</ul>
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Photo via Shutterstock

Equities

Eurozone

Commodities

ADGM

Gold Falls Over 1%; D.R. Horton Posts Downbeat Earnings

U.S. stocks traded mixed this morning, with the Dow Jones index falling more than 1% on Thursday.
Following the market opening Thursday, the Dow traded down 1.22% to 39,187.35 while the NASDAQ gained 0.28% to 16,352.96. The S&amp;P 500 also rose, gaining, 0.11% to 5,281.74.
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Leading and Lagging Sectors Energy shares surged by 2.2% on Thursday.
In trading on Thursday, health care shares fell by 0.3%.
Top Headline
U.S. initial jobless claims declined by 9,000 from the previous week to 215,000 during the second week of April, versus market estimates of 225,000.
Equities Trading UP &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
<ul>
<li>Baijiayun Group Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RTC#NASDAQ">RTC</a>) shares shot up 109% to $0.4484 after the company announced it formed a partnership with Xinlantian to combine their AI video and large language model technologies with expertise in autism rehabilitation.</li>
<li>Shares of Adagio Medical Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADGM#NASDAQ">ADGM</a>)got a boost, surging 58% to $1.3820 after the FDA granted Breakthrough Device Designation for the vCLAS cryoablation system.</li>
<li>Channel Therapeutics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHRO#NYSE">CHRO</a>) shares were also up, gaining 59% to $1.9950. Ligand Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) and Channel Therapeutics on Thursday signed a definitive merger agreement to combine Ligand's wholly owned subsidiaries, Pelthos Therapeutics Inc. and LNHC, Inc. (collectively Pelthos) with CHRO Merger Sub Inc., a wholly owned subsidiary of Channel.</li>
</ul>
Equities Trading DOWN
<ul>
<li>Click Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CLIK#NASDAQ">CLIK</a>) shares dropped 39% to $0.4157.</li>
<li>Shares of CaliberCos Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CWD#NASDAQ">CWD</a>) were down 33% to $0.3020 as the company announced the pricing of the public offering units.</li>
<li>iOThree Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IOTR#NASDAQ">IOTR</a>) was down, falling 35% to $1.20.</li>
</ul>
Commodities In commodity news, oil traded up 1.1% to $63.14 while gold traded down 0.1% at $3,344.80.
Silver traded down 1.1% to $32.610 on Thursday, while copper fell 1% to $4.6380.
Euro zone
European shares were lower today. The eurozone's STOXX 600 fell 0.4%, Germany's DAX 40 declined 0.6% and France's CAC 40 dipped 0.7%. Spain's IBEX 35 Index slipped 0.5%, while London's FTSE 100 fell 0.5%.
Asia Pacific Markets
Asian markets closed higher on Thursday, with Japan's Nikkei 225 gaining 1.35%, China's Shanghai Composite gaining 0.13%, Hong Kong's Gang Seng index gaining 1.61% and India's BSE Sensex gaining 1.96%.
Economics
<ul>
<li>U.S. housing starts dipped 11.4% month-over-month to an annualized rate of 1.324 million in March.</li>
<li>U.S. initial jobless claims declined by 9,000 from the previous week to 215,000 during the second week of April, versus market estimates of 225,000.</li>
<li>The Philadelphia Fed Manufacturing Index fell 39 points to a reading of -26.4 in April, and down from market estimates of 2.</li>
<li>U.S. building permits climbed by 1.6% to an annualized rate of 1.482 million in March.</li>
</ul>
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Photo via Shutterstock

CLIK

IOTR

Dow Falls Over 1%; US Initial Jobless Claims Decline

Ligand Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) and Channel Therapeutics Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHRO#NYSE">CHRO</a>) on Thursday signed a definitive merger agreement to combine Ligand&#8217;s wholly owned subsidiaries, Pelthos Therapeutics Inc. and LNHC, Inc. (collectively Pelthos) with CHRO Merger Sub Inc., a wholly <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">owned subsidiary of Channel</a>.
The merger will be supported by $50 million in capital raised from a group of strategic investors led by Murchinson.
Under the merger agreement, Channel will acquire 100% of Pelthos&#8217; issued and outstanding equity interests, change its name to Pelthos Therapeutics, and trade on the NYSE American exchange under the ticker PTHS.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/04/44750854/analyst-sees-big-upside-in-ligands-capital-efficient-biotech-strategy" rel="noreferrer noopener">Analyst Sees Big Upside In Ligand&#8217;s Capital-Efficient Biotech Strategy</a>
In connection with the transaction, Ligand has agreed to invest $18 million in the combined company, and the Investor Group has agreed to invest $32 million in a total of $50 million.
Upon completing the transaction, Scott Plesha, CEO of Pelthos, will become CEO of the combined company, and Frank Knuettel II, CEO of Channel Therapeutics, will become CFO. The transaction is expected to close in the summer of 2025.
The combined company will initially focus on accelerating the commercialization of Pelthos&#8217; Zelsuvmi (berdazimer) topical gel, 10.3%, for Molluscum contagiosum infections in adults and pediatric patients one year and older.
The U.S. Food and Drug Administration (FDA) approved Zelsuvmi in 2024. It is the first and only prescription therapy for molluscum infections approved for use at home by patients, parents, and caregivers.
Ligand is entitled to a 13% royalty on worldwide sales of Zelsuvmi.
The combined company will also retain Channel&#8217;s existing NaV 1.7 development programs for various types of chronic pain, acute and chronic eye pain, and post-surgical nerve blocks.
In December 2024, Channel Therapeutics announced that it achieved its endpoints in two pre-clinical in vivo models of the company&#8217;s nerve block formulations for acute pain, showing material improvement in efficacy and duration over the existing standard <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42552299/channel-therapeutics-announces-positive-efficacy-data-for-a-depot-formulation-of-a-nav1-7-inhibito" rel="noreferrer noopener">of care, bupivacaine</a>.
An update on the Channel&#8217;s animal efficacy study for its eye pain program will be forthcoming.
&#8220;This transaction presents a compelling opportunity to launch a commercial-ready product, with significant financial backing from Murchinson, that has the potential to deliver both near and long-term value to our shareholders,&#8221; said Todd Davis, CEO of Ligand.
Frank Knuettel II, CEO of Channel Therapeutics, commented, &#8220;We have performed extensive due diligence on the Zelsuvmi market opportunity and their team and operations, and we believe this is an extraordinary opportunity for current Channel shareholders. Strategically, it provides the potential for near-term revenue generation from an FDA-approved drug, the opportunity to advance Channel&#8217;s existing NaV 1.7 programs, and expanded capitalization from strong, long-standing investors.&#8221;
Molluscum contagiosum is a poxvirus and one of the most common skin infections, afflicting an estimated 16.7 million people in the U.S.
Price Action: LGND stock is up 2.08% at $106.80 during the premarket session at the last check Thursday, and CHRO stock closed at $1.26 on Wednesday.
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Asset Sales

Market-Moving Exclusives

Exclusives

EXCLUSIVE: Ligand Subsidiary Pelthos Therapeutics To Combine with Channel Therapeutics Creating Pain Medicines Focused Entity

EXCLUSIVE: Ligand Pharmaceuticals Tells Benzinga 'Transaction is expected to close in the summer of 2025'

EXCLUSIVE: Ligand Pharmaceuticals Tells Benzinga 'Ligand is entitled to a 13% royalty on worldwide sales of ZELSUVMI'

EXCLUSIVE: Ligand Pharmaceuticals Tells Benzinga 'Proposed transaction will raise $50 million in equity capital and enhance a publicly traded biopharmaceutical company focused on launching Pelthos' ZELSUVMI'

EXCLUSIVE: Ligand Pharmaceuticals Tells Benzinga Co's Subsidiary Pelthos Therapeutics Today Announced The Signing Of Definitive Merger Agreement To Combine With Channel Therapeutics

Stifel initiated coverage on Ligand Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) on Wednesday, noting that Ligand has uniquely positioned itself <a href="https://www.benzinga.com/general/biotech">as a strategic partner.</a>
The company&#8217;s business model involves funding programs in mid-to late-stage drug development in return for economic rights, purchasing royalty rights in the development stage or commercial biopharmaceutical <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">products, and licensing technology</a>.
Stifel analyst Annabel Samimy writes, &#8220;In an inconsistent financing environment, LGND stands as an important source of differentiated capital through royalty-financing deals to mid– to late-stage biopharma companies looking for non-dilutive funding.&#8221;
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/04/44741889/tempest-weighs-ma-analyst-sees-a-broken-story-despite-phase-2-liver-cancer-study-success" rel="noreferrer noopener">Tempest Weighs M&amp;A, Analyst Sees A &#8220;Broken Story&#8221; Despite Phase 2 Liver Cancer Study Success</a>
The analyst says, &#8220;LGND has emerged as an aggregator of highly differentiated biopharmaceutical royalty assets with the unique ability to identify, acquire, and develop under-valued assets through its operational expertise.&#8221;
Stifel initiated with a Buy rating and a <a target="_blank" href="https://www.benzinga.com/quote/LGND/analyst-ratings" rel="noreferrer noopener">price target of $43</a>.
Analyst Samimy says Ligand mainly works with early-stage biotech companies that constantly need funding and often use it inefficiently. On the technology side, Ligand focuses on proven, scalable platforms. Its key asset is the Captisol platform, which over 100 biotech and pharma companies have licensed.
Ligand Pharmaceuticals reported fourth-quarter adjusted EPS of $1.27, beating the consensus of $1.19, and sales of $42.81 million, beating the <a target="_blank" href="https://www.benzinga.com/calendars/earnings" rel="noreferrer noopener">consensus of $39.02 million</a>.
Ligand reaffirmed its fiscal 2025 outlook of adjusted EPS of $6.00-$6.25 vs. $6.15 consensus and sales of $180 million-$200 million versus <a href="https://www.benzinga.com/pressreleases/25/02/g44002307/ligand-reports-fourth-quarter-and-full-year-2024-financial-results" target="_blank" rel="noreferrer noopener">consensus of $187.75 million</a>.
This strategy puts Ligand in a market with constant demand for capital, while building a fast-growing portfolio that avoids the high risk usually seen in early-stage biotech.
Since restructuring in 2022–2023, Ligand has achieved over 20% revenue growth and more than 35% earnings-per-share growth. It aims to continue this trend with a lean cost structure.
Price Action: LGND stock was down 2.46% at $101.29 on Thursday.
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Photo: Shutterstock

Analyst Color

Initiation

Analyst Sees Big Upside In Ligand's Capital-Efficient Biotech Strategy

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades, downgrades and initiations, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>B of A Securities analyst Joshua Dennerlein initiated coverage on MSCI Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSCI#NYSE">MSCI</a>) with a Neutral rating and announced a price target of $585. MSCI shares closed at $549.33 on Wednesday. <a href="https://www.benzinga.com/quote/MSCI/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Mizuho initiated coverage on MannKind Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MNKD#NASDAQ">MNKD</a>) with an Outperform rating and announced a price target of $12. MannKind shares closed at $4.69 on Wednesday. <a href="https://www.benzinga.com/quote/MNKD/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Jefferies analyst Kelly Shi initiated coverage on Verastem, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSTM#NASDAQ">VSTM</a>) with a Buy rating and announced a price target of $15. Verastem shares closed at $5.28 on Wednesday. <a href="https://www.benzinga.com/quote/VSTM/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>JP Morgan analyst Tami Zakaria initiated coverage on Westinghouse Air Brake Technologies Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAB#NYSE">WAB</a>) with a Neutral rating and announces Price Target of $175. Westinghouse Air Brake shares closed at $175.82 on Wednesday. <a href="https://www.benzinga.com/quote/WAB/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Stifel analyst Annabel Samimy initiated coverage on Ligand Pharmaceuticals Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) with a Buy rating and announced a price target of $143. Ligand Pharmaceuticals shares closed at $103.85 on Wednesday.  <a href="https://www.benzinga.com/quote/LGND/analyst-ratings">See how other analysts view this stock.</a></li>
</ul>
Considering buying LGND stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="642" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10085936/image-67-1024x642.png" alt="" class="wp-image-865923" style="width:490px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10085936/image-67-1024x642.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10085936/image-67-300x188.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10085936/image-67-768x482.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/04/10085936/image-67.png 1087w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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Photo via Shutterstock

Pre-Market Outlook

MNKD

MSCI

VSTM

This Ligand Pharmaceuticals Analyst Begins Coverage On A Bullish Note; Here Are Top 5 Initiations For Thursday

Stifel analyst Annabel Samimy initiates coverage on Ligand Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LGND#NASDAQ">LGND</a>) with a Buy rating and announces Price Target of $143.

Stifel Initiates Coverage On Ligand Pharmaceuticals with Buy Rating, Announces Price Target of $143

WIIM

Ligand Pharmaceuticals shares are trading higher after the company reported better-than-expected Q4 financial results.

2025 Financial Guidance
Ligand is reaffirming the 2025 financial guidance introduced at its Investor Day on December 10, 2024. The Company continues to expect 2025 royalty revenue ranging from $135 million to $140 million, revenue from sales of Captisol ranging from $35 million to $40 million and contract revenue ranging from $10 million to $20 million. These revenue components result in a total revenue forecast of $180 million to $200 million. Ligand notes that with total revenue of $180 million to $200 million, adjusted earnings per diluted share2 are anticipated to range from approximately $6.00 to $6.25.

Ligand Pharmaceuticals Reaffirms FY2025 Outlook: Adj EPS of $6.00-$6.25 vs $6.15 Estimate; Sales of $180.00M-$200.00M vs $187.75M Estimate

Press Releases

Palvella Therapeutics Reports Full Year 2024 Financial Results and Provides Corporate Update

Ligand Subsidiary Pelthos Therapeutics to Combine with Channel Therapeutics

Ligand to Report First Quarter 2025 Financial Results on May 8, 2025

Ligand to Participate in May Investor Conferences

Ligand Reports First Quarter 2025 Financial Results

Ligand to Ring the Nasdaq Opening Bell on May 19, 2025

Ligand Announces 2025 Investor Day in New York City

Ligand Announces Completion of Pelthos Therapeutics Merger with Channel Therapeutics

Pelthos Therapeutics Completes Merger with Channel Therapeutics and Closes $50.1 Million Private Placement

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