Ligand Pharmaceuticals (LGND) Lifted to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday morning.

LGND has been the topic of several other research reports. Craig Hallum reissued a buy rating and issued a $230.00 target price on shares of Ligand Pharmaceuticals in a research note on Wednesday. HC Wainwright reissued a buy rating on shares of Ligand Pharmaceuticals in a research note on Thursday. ValuEngine raised Ligand Pharmaceuticals from a hold rating to a buy rating in a research note on Wednesday, May 2nd. Zacks Investment Research raised Ligand Pharmaceuticals from a hold rating to a buy rating and set a $171.00 target price on the stock in a research note on Wednesday, February 28th. Finally, TheStreet raised Ligand Pharmaceuticals from a c+ rating to an a- rating in a research note on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $166.00.

Ligand Pharmaceuticals opened at $207.17 on Thursday, Marketbeat reports. Ligand Pharmaceuticals has a 1-year low of $115.40 and a 1-year high of $212.50. The company has a current ratio of 1.41, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $4.43 billion, a price-to-earnings ratio of 80.61, a P/E/G ratio of 1.92 and a beta of 0.96.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Tuesday, May 8th. The biotechnology company reported $1.55 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.26. Ligand Pharmaceuticals had a return on equity of 19.10% and a net margin of 31.40%. The firm had revenue of $56.16 million for the quarter, compared to analyst estimates of $43.02 million. During the same quarter in the prior year, the firm posted $0.57 earnings per share. The company’s quarterly revenue was up 91.9% on a year-over-year basis. research analysts anticipate that Ligand Pharmaceuticals will post 4.33 EPS for the current year.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 12,405 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $179.97, for a total value of $2,232,527.85. Following the completion of the sale, the chief executive officer now directly owns 119,824 shares in the company, valued at $21,564,725.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John L. Lamattina sold 4,000 shares of the stock in a transaction dated Monday, June 4th. The stock was sold at an average price of $194.51, for a total value of $778,040.00. Following the completion of the sale, the director now owns 24,956 shares of the company’s stock, valued at $4,854,191.56. The disclosure for this sale can be found here. Insiders sold 27,786 shares of company stock valued at $4,900,365 over the last 90 days. Corporate insiders own 7.80% of the company’s stock.

Several institutional investors have recently made changes to their positions in the business. Mason Street Advisors LLC increased its holdings in shares of Ligand Pharmaceuticals by 6.7% in the first quarter. Mason Street Advisors LLC now owns 5,855 shares of the biotechnology company’s stock worth $967,000 after acquiring an additional 366 shares in the last quarter. Meadow Creek Investment Management LLC increased its holdings in shares of Ligand Pharmaceuticals by 27.9% in the fourth quarter. Meadow Creek Investment Management LLC now owns 1,760 shares of the biotechnology company’s stock worth $241,000 after acquiring an additional 384 shares in the last quarter. Intrust Bank NA increased its holdings in shares of Ligand Pharmaceuticals by 13.7% in the first quarter. Intrust Bank NA now owns 3,365 shares of the biotechnology company’s stock worth $556,000 after acquiring an additional 405 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Ligand Pharmaceuticals by 18.9% in the first quarter. Massmutual Trust Co. FSB ADV now owns 2,592 shares of the biotechnology company’s stock worth $428,000 after acquiring an additional 412 shares in the last quarter. Finally, Aperio Group LLC increased its holdings in shares of Ligand Pharmaceuticals by 1.8% in the first quarter. Aperio Group LLC now owns 24,421 shares of the biotechnology company’s stock worth $4,033,000 after acquiring an additional 441 shares in the last quarter.

About Ligand Pharmaceuticals

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; 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.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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