Ligand Pharmaceuticals Inc. (NASDAQ:LGND)‘s stock had its “buy” rating reissued by analysts at HC Wainwright in a research report issued on Wednesday. They currently have a $160.00 target price on the biotechnology company’s stock, up from their prior target price of $146.00. HC Wainwright’s price target indicates a potential upside of 57.98% from the company’s previous close.
Several other analysts have also commented on LGND. Roth Capital reaffirmed a “buy” rating and issued a $147.00 price target on shares of Ligand Pharmaceuticals in a research note on Saturday, July 9th. Zacks Investment Research lowered Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. HC Wainwright reissued a “buy” rating and issued a $160.00 price objective (up previously from $146.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday. Deutsche Bank AG raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $110.00 to $105.00 in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Finally, Vetr raised 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Ligand had its price objective decreased by analysts at CJS Securities from $130.00 to $125.00 in a report released on Wednesday, September 28. Ligand Pharmaceuticals has an average rating of “Buy” and a consensus price target of $139.25.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) traded up 0.71% on Wednesday, hitting $101.28. 356,092 shares of the company’s stock were exchanged. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of 9.55 and a beta of 1.23. Ligand Pharmaceuticals has a 12-month low of $82.06 and a 12-month high of $139.79. The company’s 50-day moving average price is $108.75 and its 200 day moving average price is $117.22.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $0.50 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.10. Ligand Pharmaceuticals had a net margin of 263.14% and a return on equity of 11.64%. The firm had revenue of $19.50 million for the quarter, compared to analyst estimates of $18.12 million. During the same period last year, the business earned $1.81 EPS. Ligand Pharmaceuticals’s revenue for the quarter was up 6.0% compared to the same quarter last year. On average, equities analysts predict that Ligand Pharmaceuticals will post $3.45 earnings per share for the current fiscal year.
In other news, Director John W. Kozarich sold 1,000 shares of Ligand Pharmaceuticals stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $137.57, for a total value of $137,570.00. Following the sale, the director now owns 41,783 shares of the company’s stock, valued at $5,748,087.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Kozarich sold 1,666 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $105.40, for a total transaction of $175,596.40. Following the completion of the sale, the director now directly owns 40,783 shares in the company, valued at approximately $4,298,528.20. The disclosure for this sale can be found here. 14.70% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of the stock. Aperio Group LLC increased its stake in shares of 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 bought a new stake in Ligand Pharmaceuticals during the first quarter worth approximately $1,446,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Ligand Pharmaceuticals during the first quarter worth approximately $207,000. TIAA CREF Investment Management LLC increased its stake 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 worth $11,659,000 after buying an additional 45,583 shares in the last quarter. Finally, Teachers Advisors Inc. increased its stake in Ligand Pharmaceuticals by 291.3% in the first quarter. Teachers Advisors Inc. now owns 100,617 shares of the biotechnology company’s stock worth $10,775,000 after buying an additional 74,901 shares in the last quarter.
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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