Ligand Pharmaceuticals (NASDAQ:LGND) had its target price hoisted by HC Wainwright from $170.00 to $182.00 in a research report released on Wednesday morning, MarketBeat reports. They currently have a buy rating on the biotechnology company’s stock.
Several other analysts also recently issued reports on LGND. Craig Hallum restated a buy rating and set a $200.00 price objective (up previously from $190.00) on shares of Ligand Pharmaceuticals in a report on Wednesday. BidaskClub downgraded Ligand Pharmaceuticals from a strong-buy rating to a buy rating in a report on Tuesday, February 27th. TheStreet downgraded Ligand Pharmaceuticals from a b rating to a c+ rating in a report on Thursday, March 1st. Zacks Investment Research upgraded Ligand Pharmaceuticals from a hold rating to a buy rating and set a $171.00 price objective on the stock in a report on Wednesday, February 28th. Finally, 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. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Ligand Pharmaceuticals presently has a consensus rating of Buy and an average price target of $161.00.
Ligand Pharmaceuticals (NASDAQ LGND) traded up $1.34 during midday trading on Wednesday, reaching $176.04. The company’s stock had a trading volume of 349,837 shares, compared to its average volume of 321,750. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05. The firm has a market cap of $3,720.00, a P/E ratio of 345.18, a PEG ratio of 1.78 and a beta of 1.10. Ligand Pharmaceuticals has a 12-month low of $102.56 and a 12-month high of $177.78.
In other news, CEO John L. Higgins sold 28,099 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 162,299 shares in the company, valued at approximately $24,945,356.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Stephen L. Sabba sold 925 shares of the company’s stock in a transaction dated Wednesday, December 20th. The shares were sold at an average price of $137.25, for a total value of $126,956.25. Following the completion of the transaction, the director now owns 26,985 shares in the company, valued at approximately $3,703,691.25. The disclosure for this sale can be found here. Insiders sold a total of 99,890 shares of company stock worth $15,767,270 in the last quarter. 8.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ligand Pharmaceuticals by 48.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock valued at $151,000 after purchasing an additional 359 shares during the period. M&T Bank Corp increased its holdings in shares of Ligand Pharmaceuticals by 22.9% in the 4th quarter. M&T Bank Corp now owns 1,947 shares of the biotechnology company’s stock valued at $267,000 after purchasing an additional 363 shares during the period. Meadow Creek Investment Management LLC increased its holdings in shares of Ligand Pharmaceuticals by 27.9% in the 4th quarter. Meadow Creek Investment Management LLC now owns 1,760 shares of the biotechnology company’s stock valued at $241,000 after purchasing an additional 384 shares during the period. Willingdon Wealth Management increased its holdings in Ligand Pharmaceuticals by 2.7% in the fourth quarter. Willingdon Wealth Management now owns 15,075 shares of the biotechnology company’s stock worth $2,064,000 after buying an additional 395 shares during the last quarter. Finally, Intrust Bank NA increased its holdings in Ligand Pharmaceuticals by 18.5% in the third quarter. Intrust Bank NA now owns 2,556 shares of the biotechnology company’s stock worth $348,000 after buying an additional 399 shares during the last quarter.
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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.
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