Stock Track | Ligand Pharmaceuticals Soars 5.80% Intraday Following RBC Capital Price Target Hike

Stock Track

05/09

Ligand Pharmaceuticals (LGND) stock soared 5.80% during intraday trading on Friday, reflecting strong positive momentum in the session.

The surge appears to be driven by bullish analyst actions from RBC Capital. The firm raised its price target on Ligand Pharmaceuticals to $262 from $252 while maintaining its Outperform rating. RBC also reiterated its Buy rating on the company with the same price target, signaling continued confidence in its prospects.

Positive analyst revisions often influence investor sentiment, and the significant increase in the price target likely contributed to the heightened buying activity and the stock's substantial intraday gain.

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