Ligand Pharmaceuticals (NASDAQ:LGND) Upgraded to Sell by BidaskClub

BidaskClub upgraded shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a strong sell rating to a sell rating in a research report sent to investors on Friday, BidAskClub reports.

LGND has been the subject of a number of other research reports. Argus set a $140.00 target price on Ligand Pharmaceuticals and gave the stock a buy rating in a report on Monday, June 10th. ValuEngine lowered Ligand Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 23rd. Barclays lowered their target price on Ligand Pharmaceuticals from $131.00 to $110.00 and set an equal weight rating for the company in a report on Monday, August 5th. Finally, Zacks Investment Research downgraded Ligand Pharmaceuticals from a hold rating to a strong sell rating and set a $95.00 price target on the stock. in a research report on Thursday, August 8th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. Ligand Pharmaceuticals presently has an average rating of Hold and a consensus target price of $147.80.

Ligand Pharmaceuticals stock opened at $101.87 on Friday. The business has a fifty day moving average of $93.49 and a two-hundred day moving average of $111.72. The company has a quick ratio of 13.15, a current ratio of 13.23 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.87 billion, a P/E ratio of 16.22, a P/E/G ratio of 2.14 and a beta of 1.30. Ligand Pharmaceuticals has a twelve month low of $84.45 and a twelve month high of $278.62.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.30. The company had revenue of $24.99 million during the quarter, compared to analyst estimates of $21.01 million. Ligand Pharmaceuticals had a return on equity of 11.24% and a net margin of 389.58%. Ligand Pharmaceuticals’s revenue was down 72.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.59 earnings per share. Equities analysts expect that Ligand Pharmaceuticals will post 2.28 earnings per share for the current year.

In other news, CEO John L. Higgins bought 1,850 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were purchased at an average cost of $95.45 per share, with a total value of $176,582.50. Following the transaction, the chief executive officer now directly owns 146,749 shares in the company, valued at $14,007,192.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jason Aryeh bought 250 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was purchased at an average cost of $106.01 per share, for a total transaction of $26,502.50. Following the completion of the transaction, the director now owns 61,953 shares in the company, valued at $6,567,637.53. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 8,600 shares of company stock worth $828,747. 8.40% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC acquired a new position in shares of Ligand Pharmaceuticals in the 1st quarter valued at $26,000. FTB Advisors Inc. acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $26,000. Tower Research Capital LLC TRC increased its position in shares of Ligand Pharmaceuticals by 188.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. FinTrust Capital Advisors LLC increased its position in shares of Ligand Pharmaceuticals by 64.4% in the 1st quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 132 shares during the period. Finally, Valeo Financial Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $46,000.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; Aziyo portfolio of commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

Further Reading: Diluted Earnings Per Share

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