Roth Capital reissued their buy rating on shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) in a research report sent to investors on Wednesday. They currently have a $150.00 target price on the biotechnology company’s stock, down from their previous target price of $151.00.
Several other equities analysts have also issued reports on the company. Deutsche Bank AG lowered Ligand Pharmaceuticals from a hold rating to a sell rating and boosted their price target for the company from $104.00 to $110.00 in a research note on Friday, August 5th. They noted that the move was a valuation call. Vetr upgraded Ligand Pharmaceuticals from a buy rating to a strong-buy rating and set a $128.29 price objective on the stock in a research note on Wednesday, August 10th. Finally, Zacks Investment Research upgraded Ligand Pharmaceuticals from a hold rating to a strong-buy rating and set a $135.00 price objective on the stock in a research note on Tuesday, August 9th. One analyst has rated the stock with a hold rating, five have issued a buy rating and two have given a strong buy rating to the company. Ligand Pharmaceuticals currently has a consensus rating of Buy and an average target price of $136.33.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) traded down 0.71% during mid-day trading on Wednesday, reaching $101.71. The company’s stock had a trading volume of 128,692 shares. The company has a 50 day moving average of $110.15 and a 200-day moving average of $116.99. Ligand Pharmaceuticals has a 12 month low of $81.13 and a 12 month high of $139.79. The firm has a market capitalization of $2.12 billion, a P/E ratio of 9.59 and a beta of 1.27.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.10. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. The firm had revenue of $19.50 million for the quarter, compared to analyst estimates of $18.12 million. During the same period in the previous year, the company posted $1.81 earnings per share. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts forecast that Ligand Pharmaceuticals will post $3.45 EPS for the current year.
In other news, Director John W. Kozarich sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $121.40, for a total value of $121,400.00. Following the transaction, the director now directly owns 42,883 shares of the company’s stock, valued at approximately $5,205,996.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Kozarich sold 1,666 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $105.40, for a total value of $175,596.40. Following the completion of the transaction, the director now directly owns 40,783 shares in the company, valued at $4,298,528.20. The disclosure for this sale can be found here. 14.70% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Macquarie Group Ltd. increased its position in shares of Ligand Pharmaceuticals by 4.0% in the second quarter. Macquarie Group Ltd. now owns 281,629 shares of the biotechnology company’s stock valued at $33,590,000 after buying an additional 10,716 shares during the last quarter. Mason Street Advisors LLC purchased a new position in Ligand Pharmaceuticals during the second quarter valued at about $442,000. Royal Bank of Canada increased its position in Ligand Pharmaceuticals by 71.7% in the second quarter. Royal Bank of Canada now owns 28,082 shares of the biotechnology company’s stock valued at $3,350,000 after buying an additional 11,722 shares in the last quarter. Howe & Rusling Inc. increased its position in Ligand Pharmaceuticals by 8.3% in the second quarter. Howe & Rusling Inc. now owns 1,375 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 105 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Ligand Pharmaceuticals by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 78,866 shares of the biotechnology company’s stock valued at $9,407,000 after buying an additional 823 shares in the last quarter.
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 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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