Ligand Pharmaceuticals (NASDAQ:LGND)‘s stock had its “buy” rating reaffirmed by investment analysts at HC Wainwright in a research note issued on Wednesday, November 22nd. They presently have a $159.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price would indicate a potential upside of 20.79% from the stock’s current price.
A number of other research analysts have also issued reports on the company. Deutsche Bank lowered Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a research report on Monday, November 20th. Craig Hallum reissued a “buy” rating and issued a $170.00 price objective (up from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. Roth Capital set a $158.00 price objective on Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, November 13th. Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 price objective for the company in a research note on Thursday, October 12th. Finally, ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $149.67.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) opened at $131.63 on Wednesday. The company has a market capitalization of $2,709.10, a P/E ratio of 96.51, a P/E/G ratio of 1.97 and a beta of 0.91. Ligand Pharmaceuticals has a 52-week low of $95.08 and a 52-week high of $149.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The business had revenue of $33.38 million for the quarter, compared to analyst estimates of $31.04 million. During the same quarter in the prior year, the firm posted $0.62 EPS. The business’s quarterly revenue was up 54.4% compared to the same quarter last year. equities analysts expect that Ligand Pharmaceuticals will post 2.37 EPS for the current year.
In other news, Director John W. Kozarich sold 5,000 shares of the stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $141.71, for a total transaction of $708,550.00. Following the completion of the transaction, the director now directly owns 35,649 shares in the company, valued at approximately $5,051,819.79. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Matthew E. Korenberg sold 6,559 shares of the stock in a transaction on Friday, November 17th. The stock was sold at an average price of $142.63, for a total value of $935,510.17. Following the transaction, the vice president now owns 8,147 shares of the company’s stock, valued at $1,162,006.61. The disclosure for this sale can be found here. Insiders sold a total of 16,828 shares of company stock valued at $2,395,051 over the last ninety days. Corporate insiders own 8.30% of the company’s stock.
A number of institutional investors have recently made changes to their positions in LGND. Janus Henderson Group PLC purchased a new position in Ligand Pharmaceuticals during the 2nd quarter valued at about $72,293,000. Russell Investments Group Ltd. boosted its holdings in Ligand Pharmaceuticals by 38.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 372,465 shares of the biotechnology company’s stock valued at $45,217,000 after acquiring an additional 102,892 shares during the period. Stifel Financial Corp boosted its holdings in Ligand Pharmaceuticals by 1,447.2% during the 3rd quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock valued at $14,839,000 after acquiring an additional 102,071 shares during the period. Macquarie Group Ltd. boosted its holdings in Ligand Pharmaceuticals by 27.3% during the 2nd quarter. Macquarie Group Ltd. now owns 471,058 shares of the biotechnology company’s stock valued at $57,186,000 after acquiring an additional 101,073 shares during the period. Finally, Castleark Management LLC purchased a new position in Ligand Pharmaceuticals during the 2nd quarter valued at about $9,552,000.
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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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