** Stifel initiates coverage on drugmaker Ligand pharmaceuticals LGND.O with "buy" rating
** Brokerage sets PT at $143, representing 37.7% upside to stock's last close
** Says LGND acquired multiple experimental drugs from development-stage companies; adds co has more than 90 partnered commercial and development-stage programs for cancer, kidney disease, diabetes and other conditions
** Acquired drug candidates offer solid and predictable double-digit growth, brokerage says
** LGND is to launch its viral skin-infection treatment, Zelsuvmi, in mid-2025 after acquiring asset from bankruptcy; brokerage adds, "LGND holds one of the most diversified portfolios of royalty revenues"
** Royalty revenue is income from drugs that LGND does not make or sell itself, but earns percentage from sale through licensing deals
** Six of 6 brokerages rate stock "buy" or higher; their median PT is $143.5 - data compiled by LSEG
** Up to last close, stock has fallen 3.1% YTD
(Reporting by Siddhi Mahatole)
((siddhi.mahatole@thomsonreuters.com))
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