Ligand Pharmaceuticals, Inc. (NASDAQ:LGND)

CAPS Rating: 2 out of 5

Develops and markets new drugs that address critical unmet medical needs in the areas of cancer, mens and womens health, skin diseases, osteoporosis, and metabolic, cardiovascular and inflammatory diseases.

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Member Avatar TerryFool (56.33) Submitted: 2/25/2014 9:42:41 AM : Outperform Start Price: $67.40 LGND Score: +1.90

LGND BP 62. TP 91 REV 1yr 4% EPS 1yr 100%

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Member Avatar SuntanIronMan (99.91) Submitted: 12/4/2013 11:42:18 PM : Outperform Start Price: $56.94 LGND Score: +19.65

As far as volatile small-cap biotech stocks go, Ligand Pharmaceuticals is far less risky than most. Ligand's business model is to partner with larger players like GlaxoSmithKline, Pfizer, and Merck. And it is their larger partners who are responsible for paying the millions of dollars needed to take a drug through various clinical trials. Ligand simply collects milestone payments during the various stages of development and royalty payments if/when the drug is approved.

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Member Avatar Teknowizz (98.18) Submitted: 9/26/2013 2:30:19 PM : Outperform Start Price: $45.65 LGND Score: +43.55

A bit down from the start & soo soon!
Oh well, I think all will be OK. This stock is a bit like CELG or even BIIB.
It is a profitable biotech, with a broad portfolio & many partners.
Less of a gamble than many other smaller biotechs.
Perhaps not the best moment to start a position (and a bit pricey).
We will see...

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Member Avatar carlsbadkevin (< 20) Submitted: 7/16/2013 3:38:40 PM : Outperform Start Price: $44.03 LGND Score: +47.19

royalties plus a great pipeline

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Member Avatar zzlangerhans (99.75) Submitted: 3/13/2013 11:18:24 PM : Underperform Start Price: $22.50 LGND Score: -191.37

For years I couldn't understand why Ligand wasn't getting any love for their deep and extensive pipeline that had led to many approved drugs. Then after seeing revenues fail to materialize quarter after quarter, I understood that the company was incapable of extracting shareholder value from their partnerships. Now it seems that a new generation of traders has their eye on the Captisol platform as an apparent pathway to profitability, but I remain skeptical. Revenues upticked to 13.6M last quarter but the breakdown was typically opaque. The 2013 revenue guidance was a disappointing 41-44M, indicating that their deal with Onyx for Kyprolis isn't any more remunerative than the Promacta deal with GSK or the bazedoxifene deal with Pfizer. The share price has risen nicely so far in 2013 but I think Ligand doesn't qualify for the buy and hold category.

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Member Avatar francisdeep1 (40.98) Submitted: 10/29/2011 1:00:50 AM : Outperform Start Price: $14.76 LGND Score: +327.82

biggest insider purchase for a small market cap co.

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Member Avatar bruceedge (< 20) Submitted: 6/19/2011 2:18:53 PM : Outperform Start Price: $10.28 LGND Score: +534.39

nice long base with lots of insider buying

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Member Avatar 2gud2btrue (88.36) Submitted: 5/21/2011 7:08:22 AM : Outperform Start Price: $10.55 LGND Score: +522.95

Target $20

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Member Avatar AllStarPortfolio (43.20) Submitted: 2/18/2010 11:42:10 AM : Outperform Start Price: $9.54 LGND Score: +567.31

zzlangerhans (99.58) wrote:

Outperform on LGND with a limit of 1.6. Here's my pitch:

Ligand Pharmaceuticals has a pipeline and business model that resembles a mid-to-large cap biotech but a market cap of less than 200M. Their financial position and prospects are difficult to evaluate as they are opaque regarding their milestone and royalty deals from collaborators. Multiple acquisitions of failing baby biotechs also set them apart from other companies with similar market caps. Their lack of revenues despite their accomplishments are no doubt what has weighed heavily on their share price. Looking long-term, the stock has been in steep decline for the last three years. However, it is difficult to imagine a scenario where this decline could continue indefinitely. They will be receiving revenue from three approved partnered drugs (Promacta, Fablyn, Conbriza) in 2010 and have multiple partnered candidates in late stage trials. Here are excerpts from the description of their pipeline in the most recent PR:

Promacta – GlaxoSmithKline

Recommended for European approval for ITP in December 2009, projected European launch in 2010. NDA filed in Japan for ITP in September 2009. Two Phase III hepatitis C trials recently completed full enrollment. Ligand currently earning royalties from U.S. product sales.

CXCR2 (SCH 527123) – Merck
Phase IIa trials for COPD and asthma completed. Two 500-patient phase IIb trials recently initiated for COPD and asthma.

p38 (BMS-582949) – Bristol Myers Squibb
Phase II Proof of Concept trial for rheumatoid arthritis completed. Phase II trial for atherosclerosis is ongoing.

Acadesine Program – PeriCor/Merck
Ongoing 7,500 patient Phase III trial for Coronary Artery Bypass Graft (CABG) Trial projected to be completed second half 2010.

Beta-Secretase – Merck
Phase I rising dose trial ongoing for Alzheimer’s disease. Phase II trial projected to begin in 2010.

JAK-3 Program for Inflammatory Disease – Pfizer
Pfizer extended research collaboration with Ligand by one year. To date, Ligand has earned over $15 million in research payments.

GlaxoSmithKline Collaboration
Eight compounds nominated to date with two compounds nominated in 2009. Potential for achieving milestones in 2010 for advancing a lead drug candidate.

Organon/Schering-Plough Research Collaboration
$4 million in milestones recently paid for certain undisclosed research programs.

SARM Program
Successful completion of Phase Ia trial in 2009. Initiation of Phase I multi-dose trial for SARM in February 2010. Completion and data for Phase Ib trial targeted for third quarter of 2010. Objective to seek partnership following Phase I trial completion.

Metabasis and Neurogen acquisitions closed giving Ligand:
Collaborations with Roche (hepatitis C) and Merck (pain). Research programs for diabetes, hyperlipidemia and Alzheimer’s disease.

I'm as sensitive as the next speculator to the possibility that this extremely wide pipeline is simply a sparkling pile of well-polished turrds. However, it is incontrovertible that the company has developed several approved drugs and has amassed an impressive array of partnerships. With 55M cash and minimal debt, bankruptcy and even dilutive financing appear unlikely in the near-term. I am a green-thumber in my own profile at a much higher price and am mystified at the ongoing decline in share price. I will also be a real-life buyer if this pick is activated below 1.6.

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Member Avatar JonBD01 (73.35) Submitted: 1/28/2010 1:59:53 PM : Outperform Start Price: $10.68 LGND Score: +484.47

Executive decisions have solidly planned for sporadic growth in this sector.

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Member Avatar nostra2006 (< 20) Submitted: 1/1/2010 10:33:05 PM : Outperform Start Price: $13.20 LGND Score: +364.54

outperform

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Member Avatar topsecret09 (41.85) Submitted: 11/29/2009 11:35:42 AM : Outperform Start Price: $11.58 LGND Score: +434.51

Company has 2 marketed drugs that It receives royalties from, 2 more that have an NDA pending ( New Drug Application) 1 drug In stage 3 clinical trials,7 In stage 2 clinical trials,5 In phase 1 clinical trials,and 7 In pre-clinical trials... They have some heavyweight partners as you can see below.
At Ligand, we believe collaboration is an important part of successful drug discovery and development. We have forged numerous valuable research and development alliances with global pharmaceutical companies that have ongoing clinical programs.
Pharmaceutical partnerships include the following companies and span programs in large market indications, such as muscle wasting, frailty, hormone-related diseases, osteoporosis, inflammatory diseases, anemia, asthma, rheumatoid arthritis and psoriasis.

•GlaxoSmithKline
•Wyeth
•Pfizer Inc.
•Bristol-Myers Squibb
•Schering-Plough
•Celgene
•Cephalon
•King Pharmaceuticals

Ligand Is Science
Our research and development programs—both within Ligand and with external partners—are built around our proprietary intracellular (IR) technology. Intracellar technology is the result of our ground-breaking work in the field of gene transcription. It is a powerful technology that has already generated numerous compounds which have advanced to late-stage clinical development.
Ligand Is Success
Ligand has the potential to realize profit streams from milestone and royalty revenues resulting from collaborations with pharmaceutical partners. Recently, we divested commercial assets, allowing us to focus on a business strategy that targets internal research and drug discovery that may provide future licensing opportunities. It seems to me that there are numerous drivers to push this stock In 2010. At a recent $1.93 per share I feel that the possibble upside outweighs the downside risks. Lots to like with such a diverse pipeline,and numerous high profile backers... TS

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Member Avatar O5LDO (< 20) Submitted: 10/27/2009 3:36:06 PM : Outperform Start Price: $11.34 LGND Score: +442.67

Doubled my original investment into LDND today. Believe this is one biotech that will outperform in the coming years.

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Member Avatar jatt22 (57.16) Submitted: 9/15/2009 10:13:34 AM : Outperform Start Price: $13.56 LGND Score: +337.68

just bought in real P F

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Member Avatar bendrt (91.09) Submitted: 5/1/2009 9:27:34 AM : Outperform Start Price: $17.94 LGND Score: +174.12

Ligand has a number of good partnerships with strong pharma companies and they seem to have several good products in the pipeline. Buzz is about that Ligand is a potential target for acquisition but that's just hearsay; nevertheless, I think they could do quite well. Lots of inside ownership. I'll wait until the May 6 conference call and then make a purchasing decision.

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Member Avatar tixareforkids (46.78) Submitted: 4/15/2009 12:25:12 PM : Outperform Start Price: $17.10 LGND Score: +185.47

zz

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Member Avatar Caedus (70.19) Submitted: 3/13/2008 11:34:59 PM : Outperform Start Price: $24.06 LGND Score: +144.25

As patents for drugs begin to expire this year, many Japanese drug companies are looking to smaller U.S. based corporations to get a foothold on new products to offset their anticipated losses from the expiration of the patents. I foresee LGND being considered for acquisition, and the speculation will likely drive it's price up. They also have several upcoming releases which will spark their sales % upwards pending FDA approvals, and their current price is far below it's future potential.

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Member Avatar lowdti (46.30) Submitted: 12/26/2007 2:35:21 PM : Outperform Start Price: $32.88 LGND Score: +82.38

Nice

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Member Avatar Hazet808T5 (61.34) Submitted: 6/28/2007 4:12:34 PM : Outperform Start Price: $42.54 LGND Score: +33.92

http://valueplays.blogspot.com/2007/06/this-weeks-insider-buys.html

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Member Avatar tonymony70 (< 20) Submitted: 6/8/2007 3:47:07 PM : Outperform Start Price: $39.60 LGND Score: +45.76

Technically, stock is set for a breakout

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