Specialty-drug giant and IBD 50 stock Actavis beat Wall Street’s first-quarter estimates Monday and for the first time offered 2015 earnings guidance that included newly acquired Allergan. Highly rated Ligand Pharmaceuticals (LGND) and Endo International (ENDP) also topped EPS targets. Actavis’ (ACT) earnings rose 23% vs. a year earlier to $4.30 a share, 37 cents above analysts’ consensus, according to Thomson Reuters. Sales jumped
Shares of early-stage development biotech Ligand Pharmaceuticals (LGND) rose 3.3% to 83.20 after it disclosed that it would receive higher royalty rates on drugs licensed to partner Viking Therapeutics, which on Friday re-filed terms for an IPO. The compounds covered under the amended licensing agreement are meant to treat hip fractures, anemia and metabolic and lipid disorders. The agreement also amended terms of upfront payments to Ligand for
Three highly rated stocks in the No. 1 Biomed/Biotech industry group are getting close to buy points: Ligand Pharmaceuticals (LGND), Amgen (AMGN) and Alexion Pharmaceuticals (ALXN). Watch this video to find out what their buy points are — you may want to add them to your stock watch list. Follow Alissa Williams on Twitter: @IBD_AWilliams.