Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has been given a consensus rating of “Buy” by the eight analysts that are covering the firm. One research analyst has rated the stock with a hold recommendation, five have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $136.33.
LGND has been the subject of a number of recent analyst reports. Roth Capital reissued a “buy” rating and issued a $149.00 target price on shares of Ligand Pharmaceuticals in a research report on Sunday, August 14th. Deutsche Bank AG raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and reduced their price target for the company from $110.00 to $105.00 in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Finally, Vetr raised shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price target for the company in a research report on Wednesday, August 10th.
In related news, CEO John L. Higgins sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $117.34, for a total transaction of $352,020.00. Following the completion of the transaction, the chief executive officer now directly owns 122,664 shares in the company, valued at approximately $14,393,393.76. The sale was disclosed in a filing with the SEC, which is available at 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 shares were sold at an average price of $105.40, for a total value of $175,596.40. Following the transaction, the director now owns 40,783 shares of the company’s stock, valued at $4,298,528.20. The disclosure for this sale can be found here. Corporate insiders own 14.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Aperio Group LLC increased its position in Ligand Pharmaceuticals by 45.0% in the first quarter. Aperio Group LLC now owns 5,833 shares of the biotechnology company’s stock valued at $625,000 after buying an additional 1,810 shares during the last quarter. Virginia Retirement System acquired a new position in Ligand Pharmaceuticals during the first quarter valued at $1,446,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Ligand Pharmaceuticals during the first quarter valued at $207,000. TIAA CREF Investment Management LLC increased its position in Ligand Pharmaceuticals by 72.0% in the first quarter. TIAA CREF Investment Management LLC now owns 108,870 shares of the biotechnology company’s stock valued at $11,659,000 after buying an additional 45,583 shares during the last quarter. Finally, Teachers Advisors Inc. increased its position in Ligand Pharmaceuticals by 291.3% in the first quarter. Teachers Advisors Inc. now owns 100,617 shares of the biotechnology company’s stock valued at $10,775,000 after buying an additional 74,901 shares during the last quarter.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) traded down 0.96% during trading on Monday, reaching $101.08. 155,480 shares of the company’s stock were exchanged. The stock has a 50-day moving average price of $109.46 and a 200 day moving average price of $116.89. Ligand Pharmaceuticals has a 12 month low of $81.79 and a 12 month high of $139.79. The firm has a market cap of $2.11 billion, a price-to-earnings ratio of 9.53 and a beta of 1.23.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share for the quarter, topping the Zacks’ 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 business earned $19.50 million during the quarter, compared to analyst estimates of $18.12 million. During the same quarter in the previous year, the firm earned $1.81 EPS. Ligand Pharmaceuticals’s revenue was up 6.0% on a year-over-year basis. On average, analysts forecast that Ligand Pharmaceuticals will post $3.45 EPS for the current year.
About Ligand Pharmaceuticals
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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