Denison Mines announces $250 million convertible notes offering
Ligand Pharmaceuticals (NASDAQ:LGND) Incorporated stock reached a 52-week high of $130.2, marking a significant milestone for the $2.46 billion market cap company. According to InvestingPro analysis, the stock appears to be trading near its Fair Value, with analysts setting price targets between $135-157. Over the past year, the stock has experienced a notable increase of 25.7%, supported by impressive revenue growth of 53.4%. This upward trajectory reflects positive investor sentiment and potential growth prospects for the company. The recent high underscores Ligand’s strong market performance, positioning it well within the pharmaceutical sector. InvestingPro subscribers have access to 10 additional key insights about Ligand’s financial health and growth prospects.
In other recent news, Ligand Pharmaceuticals reported a robust start to 2025, exceeding expectations in its first-quarter earnings. The company announced an adjusted earnings per share (EPS) of $1.33, surpassing the forecasted $1.22, and achieved a total revenue of $45 million, significantly higher than the anticipated $37.92 million. Ligand’s revenue growth was driven by a 44% increase in royalty revenue. In addition, Ligand completed a merger involving its subsidiary LNHC, Inc. and Channel Therapeutics Corporation’s subsidiary, resulting in the formation of Pelthos Therapeutics Inc. This merger raised $50.1 million in equity capital, with Ligand contributing $18 million. The newly formed Pelthos recently launched ZELSUVMI, the first FDA-approved at-home treatment for molluscum contagiosum, leading to a $5 million milestone payment to Ligand. The company is entitled to a 13% royalty on worldwide sales of ZELSUVMI and may receive up to an additional $5 million in commercial sales milestones. Furthermore, Ligand reaffirmed its full-year guidance, projecting continued growth in royalty revenue and adjusted EPS for 2025.
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