Ligand Pharmaceuticals (NASDAQ:LGND)‘s stock had its “buy” rating reaffirmed by research analysts at HC Wainwright in a research report issued to clients and investors on Wednesday. They currently have a $254.00 target price on the biotechnology company’s stock. HC Wainwright’s price target indicates a potential upside of 114.89% from the company’s previous close.
The analysts wrote, “Valuation and risks to price target achievement. We reiterate our Buy rating and $254 price target. Our target is based on sum of the parts including: (1) a clinical NPV model of assets in Phase 2 development or greater (currently 30 out of over 200 assets under development); and (2) NPV of current revenues based on our projections for royalties, material sales, and collaborative revenue.””
LGND has been the topic of a number of other reports. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating and set a $126.00 price objective on the stock in a research note on Wednesday, January 23rd. BidaskClub raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. Argus reaffirmed a “buy” rating and issued a $150.00 price objective (down from $200.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, February 13th. ValuEngine raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Finally, Roth Capital reduced their price objective on shares of Ligand Pharmaceuticals from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $210.57.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.48. Ligand Pharmaceuticals had a net margin of 57.00% and a return on equity of 26.00%. The firm had revenue of $59.59 million for the quarter, compared to analysts’ expectations of $52.58 million. During the same period last year, the firm earned $1.31 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities analysts anticipate that Ligand Pharmaceuticals will post 32.16 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Exane Derivatives bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth $36,000. Pearl River Capital LLC bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth $41,000. Jackson Grant Investment Advisers Inc. bought a new position in shares of Ligand Pharmaceuticals during the third quarter worth $137,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth $68,000. Finally, Quantamental Technologies LLC bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth $68,000.
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; Aziyo portfolio of 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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