Bank of America (BofA) Securities on Wednesday initiated coverage on Ligand Pharmaceuticals Inc (NASDAQ:LGND), citing the distinctive royalty firm offers compelling upside.

Ligand's Differentiated Model

Ligand is a biopharmaceutical royalty aggregator that provides financing to biopharma developers while also licensing its portfolio technologies.

Backed by experienced management and an investment team with a proven track record, Ligand is positioned to meet its ambitious revenue and earnings growth targets.

The company offers investors exposure to biopharma growth opportunities with a comparatively lower risk profile.

Currently, 12 major commercial-stage assets provide the majority of the company's royalty revenues, a portfolio that should continue to support the profit & loss near- to mid-term.

Analyst Jason Zemansky highlights Ligand's portfolio of over 100 programs capable of offering additional revenues, as well as access to over $1 billion in deployable ...