Ligand Pharmaceuticals (NASDAQ:LGND) was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Friday, BidAskClub reports.
Several other equities research analysts have also commented on LGND. Argus set a $140.00 price objective on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, June 10th. ValuEngine lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. HC Wainwright reiterated a “buy” rating and issued a $214.00 price objective (down previously from $254.00) on shares of Ligand Pharmaceuticals in a research note on Friday, May 3rd. Finally, Barclays started coverage on shares of Ligand Pharmaceuticals in a research note on Tuesday, June 11th. They issued an “equal weight” rating and a $131.00 price objective for the company. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $195.88.
NASDAQ:LGND traded down $0.29 on Friday, hitting $95.06. The stock had a trading volume of 447,054 shares, compared to its average volume of 412,661. The company has a current ratio of 13.23, a quick ratio of 8.33 and a debt-to-equity ratio of 0.60. The firm has a market cap of $1.87 billion, a PE ratio of 15.14, a P/E/G ratio of 2.04 and a beta of 1.31. Ligand Pharmaceuticals has a 1 year low of $91.01 and a 1 year high of $278.62. The firm’s fifty day simple moving average is $111.75.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Tuesday, July 30th. The biotechnology company reported $0.68 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.30. The firm had revenue of $24.99 million during the quarter, compared to analyst estimates of $21.01 million. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. The company’s revenue for the quarter was down 72.2% on a year-over-year basis. During the same quarter last year, the business posted $2.59 EPS. Research analysts expect that Ligand Pharmaceuticals will post 2.34 EPS for the current fiscal year.
In related news, Director Jason Aryeh bought 4,004 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average cost of $99.22 per share, with a total value of $397,276.88. Following the transaction, the director now directly owns 61,953 shares of the company’s stock, valued at $6,146,976.66. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John L. Higgins bought 2,500 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, May 14th. The shares were bought at an average cost of $113.50 per share, with a total value of $283,750.00. Following the completion of the transaction, the chief executive officer now directly owns 28,042 shares in the company, valued at $3,182,767. The disclosure for this purchase can be found here. Insiders have bought a total of 10,604 shares of company stock valued at $1,104,257 over the last three months. Insiders own 8.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Stephens Inc. AR grew its position in shares of Ligand Pharmaceuticals by 1,750.6% during the 1st quarter. Stephens Inc. AR now owns 50,189 shares of the biotechnology company’s stock valued at $6,309,000 after acquiring an additional 47,477 shares during the period. Norges Bank bought a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at approximately $31,990,000. Woodstock Corp boosted its holdings in Ligand Pharmaceuticals by 1.4% in the 1st quarter. Woodstock Corp now owns 70,753 shares of the biotechnology company’s stock worth $8,894,000 after buying an additional 994 shares during the period. Eqis Capital Management Inc. bought a new position in Ligand Pharmaceuticals in the 1st quarter worth approximately $399,000. Finally, Foundry Partners LLC boosted its holdings in Ligand Pharmaceuticals by 19.8% in the 1st quarter. Foundry Partners LLC now owns 9,251 shares of the biotechnology company’s stock worth $1,163,000 after buying an additional 1,532 shares during the period.
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; 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.
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