Analysts Set Ligand Pharmaceuticals Inc. (LGND) PT at $147.80

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has been given a consensus recommendation of “Buy” by the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $147.80.

A number of brokerages recently weighed in on LGND. HC Wainwright reissued a “buy” rating and set a $169.00 price objective on shares of Ligand Pharmaceuticals in a report on Thursday. Zacks Investment Research cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 2nd. BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, January 5th. Finally, Roth Capital set a $158.00 price target on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, November 13th.

In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 2,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $145.00, for a total value of $362,500.00. Following the transaction, the director now directly owns 33,149 shares of the company’s stock, valued at approximately $4,806,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John L. Higgins sold 5,269 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $142.53, for a total value of $750,990.57. Following the completion of the transaction, the chief executive officer now directly owns 143,542 shares in the company, valued at $20,459,041.26. The disclosure for this sale can be found here. Insiders sold a total of 20,253 shares of company stock worth $2,884,507 over the last ninety days. Insiders own 8.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of LGND. Janus Henderson Group PLC purchased a new position in shares of Ligand Pharmaceuticals during the second quarter valued at approximately $72,293,000. Stifel Financial Corp increased its stake in shares of Ligand Pharmaceuticals by 1,447.2% during the third quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock valued at $14,839,000 after buying an additional 102,071 shares during the period. Macquarie Group Ltd. increased its stake in shares of Ligand Pharmaceuticals by 27.3% during the second quarter. Macquarie Group Ltd. now owns 471,058 shares of the biotechnology company’s stock valued at $57,186,000 after buying an additional 101,073 shares during the period. Castleark Management LLC purchased a new position in shares of Ligand Pharmaceuticals during the second quarter valued at approximately $9,552,000. Finally, Royal Bank of Canada increased its stake in shares of Ligand Pharmaceuticals by 85.4% during the second quarter. Royal Bank of Canada now owns 167,943 shares of the biotechnology company’s stock valued at $20,388,000 after buying an additional 77,337 shares during the period.

Shares of Ligand Pharmaceuticals (LGND) traded up $1.23 during midday trading on Monday, hitting $150.56. The company had a trading volume of 263,568 shares, compared to its average volume of 220,067. The stock has a market cap of $3,180.00, a PE ratio of 218.20, a price-to-earnings-growth ratio of 1.57 and a beta of 0.91. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals has a 52 week low of $95.08 and a 52 week high of $151.92.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.32. The company had revenue of $33.38 million for the quarter, compared to analysts’ expectations of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. Ligand Pharmaceuticals’s revenue for the quarter was up 54.4% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. sell-side analysts anticipate that Ligand Pharmaceuticals will post 3.15 earnings per share for the current fiscal year.

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Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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