Analyst Update: Alphabet Inc, Facebook Inc, and Ligand Pharmaceuticals Inc.

Analysts are weighing in on Alphabet Inc (GOOGL), Facebook Inc (FB), and Ligand Pharmaceuticals Inc. (LGND)

by Alex Eppstein

Published on Sep 27, 2016 at 1:56 PM

Analysts are weighing in on internet issue Alphabet Inc (NASDAQ:GOOGL), social media stock Facebook Inc (NASDAQ:FB), and drugmaker Ligand Pharmaceuticals Inc. (NASDAQ:LGND). Here's a quick roundup of today's brokerage notes on GOOGL, FB, and LGND.

  • Elsewhere, TWTR rival and fellow "FANG" stock FB is 1.1% higher at $128.77 on a $5 price-target hike to $175 at J.P. Morgan Securities -- waters never before charted by the shares. Separately, FB-owned Instagram is reportedly seeing strong adoption among millennials, according to GlobalWebIndex -- with 58% of internet users between the ages of 18 and 32 having an account, up from 41% two years ago. Year-to-date, Facebook Inc stock has marched 23% higher, and its short-term options traders have become increasingly call-skewed. Specifically, the equity's Schaeffer's put/call open interest ratio (SOIR) of 0.48 rests in the low 2nd annual percentile, with calls doubling puts among options expiring in the next three months.
  • Unlike the aforementioned "FANG" stocks, LGND is down sharply -- shedding 11.5% at $100.05, and landing on the short-sale restricted list. Putting the hurt on the shares is news that Amgen, Inc.'s (NASDAQ:AMGN) Kyprolis failed in a Phase 3 study, as Ligand Pharmaceuticals Inc. receives royalties from sales of the multiple myeloma drug. Plus, Roth Capital trimmed LGND's price target to $150 from $151 -- still in never-before-seen territory. The shares are now on track for their lowest close since late March, and analysts could respond with more negative attention. After all, 80% of covering brokerage firms maintain "strong buy" opinions on LGND, with not a single "sell" recommendation to be found.
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