XOMA News & Events

Stifel raised the firm's price target on Ligand (LGND) to $255 from $230 and keeps a Buy rating on the shares after the company agreed to acquire Xoma (XOMA) for $39 per share in cash. The acquisition effectively doubles the size of Ligand's royalty portfolio and brings immediate accretion, increasing 2026 guidance by $25M in royalty revenues and adjusted core EPS by 50c per share, the analyst tells investors in a research note. The firm added that Ligand is maintaining its capital flexibility.

BofA analyst Jason Zemansky raised the firm's price target on Ligand (LGND) to $260 from $250 and keeps a Buy rating on the shares after the company announced plans to acquire fellow royalty aggregator Xoma (XOMA) for $739M plus a contingent value right related to certain pending litigation. The transaction "makes strategic and financial sense," materially expanding Ligand's portfolio by about 120 programs at "a reasonable price" and should meaningfully enhance Ligand's earnings beginning near-term while also rapidly increasing its pool of deployable capital, the analyst tells investors.