Ligand resumed at buy at Citi with acquisition of XOMA Royalty
Seeking Alpha ·
Citi has resumed its coverage of Ligand Pharmaceuticals ( LGND ) with a buy rating saying that its acquisition of XOMA Royalty adds a significant number of late-stage assets as well as a steady royalty stream.
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Citi has resumed coverage on Ligand Pharmaceuticals with a Buy rating following the completion of its acquisition of XOMA Royalty. This acquisition is expected to elevate the company's corporate value to the next level by securing multiple late-stage clinical assets and a stable royalty revenue pipeline. Investors should pay attention to the company's sustained cash-generation capability and the performance of its new drug pipeline.
상승 영향
- Biotechnology — Growth momentum has been strengthened through Citi's resumed Buy rating, the acquisition of XOMA Royalty securing stable royalty revenue, and late-stage clinical assets.
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