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)

Sep 27, 2016 at 1:56 PM
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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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