Ligand Pharmaceuticals Incorporated (LGND) Given Average Recommendation of “Buy” by Analysts

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) have been given a consensus recommendation of “Buy” by the ten ratings firms that are currently covering the company, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $135.17.

A number of research analysts have recently weighed in on LGND shares. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, May 15th. BidaskClub raised shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. ValuEngine raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Roth Capital set a $120.00 price target on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, May 22nd. Finally, TheStreet upgraded shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th.

In other news, CEO John L. Higgins sold 4,666 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $120.00, for a total transaction of $559,920.00. Following the sale, the chief executive officer now owns 143,837 shares in the company, valued at approximately $17,260,440. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John L. Higgins sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $130.00, for a total transaction of $650,000.00. Following the sale, the chief executive officer now owns 144,171 shares in the company, valued at approximately $18,742,230. The disclosure for this sale can be found here. Insiders sold a total of 41,874 shares of company stock worth $5,293,716 over the last quarter. Corporate insiders own 14.70% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Credit Suisse AG raised its position in shares of Ligand Pharmaceuticals by 34.3% during the 1st quarter. Credit Suisse AG now owns 127,030 shares of the biotechnology company’s stock valued at $13,444,000 after buying an additional 32,413 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of Ligand Pharmaceuticals by 19.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 102,959 shares of the biotechnology company’s stock valued at $10,898,000 after buying an additional 16,899 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Ligand Pharmaceuticals by 7.7% during the 2nd quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock valued at $59,588,000 after buying an additional 35,289 shares in the last quarter. Morse Asset Management Inc purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $1,078,000. Finally, Arizona State Retirement System raised its position in shares of Ligand Pharmaceuticals by 1.0% during the 2nd quarter. Arizona State Retirement System now owns 9,975 shares of the biotechnology company’s stock valued at $1,211,000 after buying an additional 100 shares in the last quarter.

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Ligand Pharmaceuticals (NASDAQ LGND) opened at 136.39 on Tuesday. The company’s 50-day moving average price is $126.12 and its 200-day moving average price is $115.17. The company has a market cap of $2.87 billion, a PE ratio of 332.66 and a beta of 0.99. Ligand Pharmaceuticals has a 12-month low of $87.50 and a 12-month high of $137.97.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.42. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The firm had revenue of $28 million during the quarter, compared to the consensus estimate of $24.40 million. During the same period in the prior year, the firm earned $0.50 EPS. The company’s revenue was up 43.6% compared to the same quarter last year. Equities analysts anticipate that Ligand Pharmaceuticals will post $2.95 earnings per share for the current year.

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 is involved in the development and licensing of biopharmaceutical assets. 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.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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