Biotech Stocks to Buy: Ligand Pharmaceuticals (LGND)
Ligand Pharmacuticals (LGND) is a biotech company that focuses on acquisition and development of royalty revenue generating assets in the United States. Ligand has relationships with most of the leading drug companies including GlaxoSmithKline (GSK), Merck (MRK), Bristol-Myers (BMY), Eli Lilly (LLY) and others.
The company has several products including strong portfolio of drugs distributed among a variety of partners, taking in royalties for Promacta, for the treatment of chronic immune thrombocytopenic purpura, Kyprolis for the treatment of multiple myeloma, Avinza, a pain therapeutic, Viviant for the treatment of postmenopausal osteoporosis and Nexterone, an injectable formulation.
They also have a strong pipeline with drugs for conditions like liver diseases and diabetes in various stages of clinical trials. Earnings have exploded this year and Portfolio Grader has ranked this biotechnology stock as an A since last May.
LGND is a strong buy at today’s price.