Ligand’s Stock Rises After Bank of America Adds a Buy Rating

Bank of America has added Ligand Pharmaceuticals to its list of stocks it recommends buying, setting a new price target at $244. The move comes as the bank highlights Ligand’s business model, which focuses on high‑margin products and a lower level of risk compared to many other biopharma companies. The recommendation was issued on March 11, 2026, and the stock climbed in pre‑market trading. Analysts at BofA believe that Ligand’s strategy of producing specialty drugs with strong pricing power can generate steady cash flow, even in a competitive market. This shift in sentiment follows years of volatility for the company, which has faced challenges with drug approvals and market competition. The new rating suggests that investors may see Ligand’s recent developments as a turning point, offering a more stable growth outlook.BofA analysts note that Ligand’s pipeline includes several high‑margin therapies that target niche patient groups. By concentrating on these areas, the company can reduce exposure to broader market swings while still maintaining profitability. The bank’s endorsement may encourage more investors to consider Ligand as a potential addition to their portfolios, especially those looking for companies with solid earnings prospects and manageable risk profiles. Overall, the recommendation reflects a belief that Ligand’s current strategy is positioned to deliver consistent returns, making it an attractive option for buyers seeking a blend of growth and stability.