Ligand Pharmaceuticals (LGND) Raised to “Buy” at ValuEngine

ValuEngine upgraded shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a hold rating to a buy rating in a report issued on Monday.

Several other equities research analysts have also recently commented on LGND. HC Wainwright set a $169.00 price objective on shares of Ligand Pharmaceuticals and gave the company a buy rating in a research report on Wednesday, December 27th. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a hold rating to a sell rating in a research report on Tuesday, January 2nd. BidaskClub raised shares of Ligand Pharmaceuticals from a buy rating to a strong-buy rating in a research report on Friday, January 5th. Craig Hallum boosted their price objective on shares of Ligand Pharmaceuticals from $170.00 to $190.00 and gave the company a buy rating in a research report on Thursday, February 22nd. Finally, Roth Capital boosted their price objective on shares of Ligand Pharmaceuticals from $158.00 to $171.00 and gave the company a buy rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average target price of $161.00.

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Shares of LGND stock opened at $157.88 on Monday. The firm has a market capitalization of $3,405.19, a PE ratio of 63.98, a PEG ratio of 1.63 and a beta of 0.91. Ligand Pharmaceuticals has a 12-month low of $102.56 and a 12-month high of $184.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.99 and a quick ratio of 0.97.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Wednesday, February 21st. The biotechnology company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.19 by $0.12. The business had revenue of $50.50 million for the quarter, compared to analysts’ expectations of $49.39 million. Ligand Pharmaceuticals had a net margin of 8.90% and a return on equity of 14.44%. The firm’s revenue was up 32.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.25 EPS. equities analysts expect that Ligand Pharmaceuticals will post 3.59 EPS for the current fiscal year.

In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 2,500 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were 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 of the company’s stock, valued at approximately $4,806,605. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jason Aryeh sold 3,417 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $155.00, for a total transaction of $529,635.00. Following the sale, the director now directly owns 58,625 shares in the company, valued at $9,086,875. The disclosure for this sale can be found here. Insiders have sold a total of 102,087 shares of company stock worth $16,153,803 over the last three months. Insiders own 8.30% of the company’s stock.

A number of large investors have recently modified their holdings of LGND. Los Angeles Capital Management & Equity Research Inc. bought a new stake in Ligand Pharmaceuticals during the 3rd quarter worth about $230,000. Advisors Asset Management Inc. bought a new stake in Ligand Pharmaceuticals during the 3rd quarter worth about $327,000. SG Americas Securities LLC lifted its position in Ligand Pharmaceuticals by 95.0% during the 3rd quarter. SG Americas Securities LLC now owns 4,404 shares of the biotechnology company’s stock worth $600,000 after buying an additional 2,146 shares in the last quarter. American International Group Inc. lifted its position in Ligand Pharmaceuticals by 7.4% during the 3rd quarter. American International Group Inc. now owns 16,282 shares of the biotechnology company’s stock worth $2,217,000 after buying an additional 1,121 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in Ligand Pharmaceuticals by 2.9% during the 3rd quarter. Nordea Investment Management AB now owns 17,249 shares of the biotechnology company’s stock worth $2,348,000 after buying an additional 489 shares in the last quarter.

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Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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