Ligand Pharmaceuticals (NASDAQ:LGND) had its price target boosted by research analysts at Craig Hallum from $170.00 to $190.00 in a report released on Thursday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Craig Hallum’s price objective suggests a potential upside of 21.53% from the company’s current price.
Several other research analysts have also recently weighed in on LGND. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Roth Capital set a $158.00 price target on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, November 13th. HC Wainwright reiterated a “buy” rating and set a $157.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, November 6th. Finally, BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. Ligand Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $154.17.
Ligand Pharmaceuticals (NASDAQ:LGND) traded up $0.83 during trading hours on Thursday, reaching $156.34. 211,500 shares of the company’s stock were exchanged, compared to its average volume of 290,134. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97. Ligand Pharmaceuticals has a fifty-two week low of $95.08 and a fifty-two week high of $170.30. The company has a market cap of $3,282.11, a P/E ratio of 226.58, a PEG ratio of 1.67 and a beta of 1.07.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Wednesday, February 21st. The biotechnology company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.12. Ligand Pharmaceuticals had a net margin of 12.76% and a return on equity of 7.83%. The business had revenue of $50.50 million during the quarter, compared to the consensus estimate of $49.39 million. During the same quarter in the previous year, the firm posted $1.25 EPS. The firm’s revenue was up 32.2% on a year-over-year basis. equities analysts predict that Ligand Pharmaceuticals will post 3.15 earnings per share for the current year.
In other news, Director John W. Kozarich sold 2,500 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $145.00, for a total transaction of $362,500.00. Following the transaction, the director now owns 33,149 shares in the company, valued at approximately $4,806,605. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen L. Sabba sold 925 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, December 20th. The shares were sold at an average price of $137.25, for a total transaction of $126,956.25. Following the transaction, the director now owns 26,985 shares in the company, valued at approximately $3,703,691.25. The disclosure for this sale can be found here. Insiders have sold a total of 63,024 shares of company stock worth $9,934,043 in the last quarter. Corporate insiders own 8.30% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. lifted its stake in shares of Ligand Pharmaceuticals by 336.4% during the 4th quarter. Assetmark Inc. now owns 1,056 shares of the biotechnology company’s stock valued at $145,000 after buying an additional 814 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Ligand Pharmaceuticals by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock valued at $151,000 after buying an additional 359 shares in the last quarter. We Are One Seven LLC purchased a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at $179,000. Harbor Advisors LLC purchased a new position in shares of Ligand Pharmaceuticals during the 3rd quarter valued at $204,000. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Ligand Pharmaceuticals by 9.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,799 shares of the biotechnology company’s stock valued at $218,000 after buying an additional 154 shares in the last quarter.
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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.
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