BidaskClub upgraded shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a buy rating to a strong-buy rating in a report published on Thursday morning.
Several other analysts have also recently issued reports on the company. Deutsche Bank cut Ligand Pharmaceuticals from a hold rating to a sell rating and set a $105.00 price objective on the stock. in a research note on Monday, November 20th. HC Wainwright set a $169.00 price objective on Ligand Pharmaceuticals and gave the company a buy rating in a research note on Wednesday, December 27th. Craig Hallum restated a buy rating and set a $170.00 price objective (up previously from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. Finally, Zacks Investment Research cut Ligand Pharmaceuticals from a hold rating to a sell rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of $161.00.
Ligand Pharmaceuticals (NASDAQ:LGND) opened at $176.04 on Thursday. The company has a quick ratio of 0.97, a current ratio of 0.99 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals has a one year low of $102.56 and a one year high of $177.78. The company has a market capitalization of $3,732.80, a PE ratio of 70.14, a P/E/G ratio of 1.78 and a beta of 1.10.
In other news, Director John W. Kozarich sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $145.00, for a total transaction of $362,500.00. Following the sale, the director now directly owns 33,149 shares in the company, valued at approximately $4,806,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen L. Sabba sold 925 shares of the 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 sale, the director now owns 26,985 shares in the company, valued at $3,703,691.25. The disclosure for this sale can be found here. Insiders have sold 99,890 shares of company stock worth $15,767,270 in the last 90 days. 8.30% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in LGND. Carillon Tower Advisers Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the 4th quarter worth approximately $30,730,000. Janus Henderson Group PLC raised its position in shares of Ligand Pharmaceuticals by 26.7% during the 3rd quarter. Janus Henderson Group PLC now owns 754,692 shares of the biotechnology company’s stock worth $102,751,000 after purchasing an additional 159,201 shares during the period. OppenheimerFunds Inc. raised its position in shares of Ligand Pharmaceuticals by 74.0% during the 4th quarter. OppenheimerFunds Inc. now owns 252,961 shares of the biotechnology company’s stock worth $34,638,000 after purchasing an additional 107,580 shares during the period. Stifel Financial Corp raised its position in shares of Ligand Pharmaceuticals by 1,447.2% during the 3rd quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock worth $14,839,000 after purchasing an additional 102,071 shares during the period. Finally, William Blair Investment Management LLC raised its position in shares of Ligand Pharmaceuticals by 8.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,240,071 shares of the biotechnology company’s stock worth $169,803,000 after purchasing an additional 92,695 shares during the period.
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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