Craig Hallum reissued their buy rating on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a research note released on Wednesday morning. The firm currently has a $200.00 target price on the biotechnology company’s stock, up from their prior target price of $190.00.
Several other brokerages have also commented on LGND. HC Wainwright boosted their price objective on Ligand Pharmaceuticals from $159.00 to $170.00 and gave the stock a buy rating in a report on Wednesday, January 24th. TheStreet lowered Ligand Pharmaceuticals from a b rating to a c+ rating in a report on Thursday, March 1st. Zacks Investment Research raised Ligand Pharmaceuticals from a strong sell rating to a hold rating in a report on Tuesday, February 20th. Roth Capital boosted their price objective on Ligand Pharmaceuticals from $158.00 to $171.00 and gave the stock a buy rating in a report on Monday, February 26th. Finally, BidaskClub lowered Ligand Pharmaceuticals from a strong-buy rating to a buy rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, one has given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Ligand Pharmaceuticals has a consensus rating of Buy and an average target price of $161.00.
Shares of Ligand Pharmaceuticals (NASDAQ LGND) traded up $1.34 on Wednesday, hitting $176.04. The stock had a trading volume of 351,271 shares, compared to its average volume of 262,482. Ligand Pharmaceuticals has a 12-month low of $102.56 and a 12-month high of $177.78. The company has a market capitalization of $3,704.38, a PE ratio of 345.18, a PEG ratio of 1.77 and a beta of 1.10. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.97 and a current ratio of 0.99.
In other Ligand Pharmaceuticals news, Director Stephen L. Sabba sold 925 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $137.25, for a total value of $126,956.25. Following the completion of the sale, the director now owns 26,985 shares of the company’s stock, valued at $3,703,691.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO John L. Higgins sold 28,099 shares of the company’s stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $153.70, for a total value of $4,318,816.30. Following the completion of the sale, the chief executive officer now directly owns 162,299 shares of the company’s stock, valued at approximately $24,945,356.30. The disclosure for this sale can be found here. Insiders have sold 99,890 shares of company stock valued at $15,767,270 in the last three months. 8.30% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Xact Kapitalforvaltning AB purchased a new stake in Ligand Pharmaceuticals in the fourth quarter worth approximately $350,000. William Blair Investment Management LLC boosted its stake in Ligand Pharmaceuticals by 8.1% in the fourth quarter. William Blair Investment Management LLC now owns 1,240,071 shares of the biotechnology company’s stock worth $169,803,000 after buying an additional 92,695 shares in the last quarter. We Are One Seven LLC purchased a new stake in Ligand Pharmaceuticals in the fourth quarter worth approximately $179,000. MetLife Investment Advisors LLC purchased a new stake in Ligand Pharmaceuticals in the fourth quarter worth approximately $1,278,000. Finally, Gotham Asset Management LLC purchased a new stake in Ligand Pharmaceuticals in the fourth quarter worth approximately $7,134,000.
ILLEGAL ACTIVITY WARNING: This article was posted by Ticker Report and is owned by of Ticker Report. If you are viewing this article on another site, it was illegally copied and reposted in violation of US & international trademark & copyright law. The correct version of this article can be viewed at https://www.tickerreport.com/banking-finance/3254014/craig-hallum-reaffirms-buy-rating-for-ligand-pharmaceuticals-lgnd.html.
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.
Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.