Ligand Pharmaceuticals (NASDAQ:LGND)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a report released on Friday, Briefing.com Automated Import reports. They presently have a $214.00 target price on the biotechnology company’s stock, down from their previous target price of $254.00. HC Wainwright’s price target would indicate a potential upside of 72.78% from the company’s current price.
The analysts wrote, “Valuation and risks to price target achievement. We reiterate our Buy rating and $214 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.””
A number of other analysts have also recently issued reports on LGND. Zacks Investment Research cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. BidaskClub raised Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. Finally, Argus reissued a “buy” rating and set a $150.00 price objective (down previously from $200.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $206.57.
Shares of Ligand Pharmaceuticals stock opened at $123.86 on Friday. The firm has a market capitalization of $2.39 billion, a PE ratio of 19.72, a price-to-earnings-growth ratio of 1.88 and a beta of 1.33. The company has a quick ratio of 8.33, a current ratio of 8.39 and a debt-to-equity ratio of 0.57. Ligand Pharmaceuticals has a 12 month low of $98.56 and a 12 month high of $278.62.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, May 2nd. The biotechnology company reported $1.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.88 by $0.28. The business had revenue of $43.48 million during the quarter, compared to analysts’ expectations of $38.28 million. Ligand Pharmaceuticals had a return on equity of 19.21% and a net margin of 320.12%. Ligand Pharmaceuticals’s revenue was down 22.6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.55 earnings per share. As a group, analysts predict that Ligand Pharmaceuticals will post 3.24 earnings per share for the current fiscal year.
In other Ligand Pharmaceuticals news, CEO John L. Higgins acquired 2,500 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average cost of $114.29 per share, for a total transaction of $285,725.00. Following the completion of the purchase, the chief executive officer now owns 141,399 shares of the company’s stock, valued at approximately $16,160,491.71. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 7.80% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Ligand Pharmaceuticals by 3.3% during the third quarter. Vanguard Group Inc. now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after buying an additional 66,789 shares in the last quarter. Fisher Asset Management LLC grew its position in Ligand Pharmaceuticals by 55.1% during the fourth quarter. Fisher Asset Management LLC now owns 66,105 shares of the biotechnology company’s stock worth $8,970,000 after buying an additional 23,486 shares in the last quarter. Woodstock Corp grew its position in Ligand Pharmaceuticals by 4.6% during the fourth quarter. Woodstock Corp now owns 69,759 shares of the biotechnology company’s stock worth $9,466,000 after buying an additional 3,051 shares in the last quarter. Tygh Capital Management Inc. grew its position in Ligand Pharmaceuticals by 108.0% during the fourth quarter. Tygh Capital Management Inc. now owns 80,183 shares of the biotechnology company’s stock worth $10,881,000 after buying an additional 41,626 shares in the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Ligand Pharmaceuticals during the fourth quarter worth about $1,336,000.
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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