Ligand Pharmaceuticals (NASDAQ:LGND) Now Covered by Analysts at Bank of America

Bank of America began coverage on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a research report sent to investors on Wednesday, Marketbeat reports. The firm issued a buy rating and a $244.00 price target on the biotechnology company’s stock.

Several other research firms also recently commented on LGND. Royal Bank Of Canada boosted their price target on shares of Ligand Pharmaceuticals from $234.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Wall Street Zen cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Citigroup assumed coverage on Ligand Pharmaceuticals in a report on Tuesday, December 9th. They issued a “buy” rating and a $270.00 target price for the company. Oppenheimer boosted their target price on Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Ligand Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $245.00.

Ligand Pharmaceuticals Stock Up 4.2%

Shares of NASDAQ:LGND opened at $221.24 on Wednesday. The firm has a market capitalization of $4.41 billion, a PE ratio of 37.95 and a beta of 1.17. Ligand Pharmaceuticals has a 1 year low of $93.58 and a 1 year high of $227.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 22.23 and a quick ratio of 21.98. The firm’s 50-day moving average is $195.57 and its two-hundred day moving average is $188.57.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, February 26th. The biotechnology company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.46 by $0.56. The business had revenue of $59.67 million during the quarter, compared to analyst estimates of $55.59 million. Ligand Pharmaceuticals had a net margin of 46.42% and a return on equity of 13.86%. The business’s revenue for the quarter was up 39.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.27 earnings per share. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. Analysts predict that Ligand Pharmaceuticals will post 1.73 EPS for the current year.

Insider Activity

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 13,423 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $205.83, for a total value of $2,762,856.09. Following the sale, the chief financial officer directly owned 21,662 shares in the company, valued at $4,458,689.46. This trade represents a 38.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen L. Sabba sold 2,034 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $201.50, for a total value of $409,851.00. Following the sale, the director directly owned 33,793 shares of the company’s stock, valued at $6,809,289.50. This trade represents a 5.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 23,662 shares of company stock valued at $4,817,826 in the last 90 days. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC purchased a new stake in Ligand Pharmaceuticals during the third quarter worth approximately $26,000. CIBC Private Wealth Group LLC increased its stake in Ligand Pharmaceuticals by 86.3% in the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Ligand Pharmaceuticals during the fourth quarter worth approximately $31,000. Richardson Financial Services Inc. raised its holdings in Ligand Pharmaceuticals by 85.8% during the third quarter. Richardson Financial Services Inc. now owns 210 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 97 shares in the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Ligand Pharmaceuticals during the 4th quarter worth approximately $43,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Key Headlines Impacting Ligand Pharmaceuticals

Here are the key news stories impacting Ligand Pharmaceuticals this week:

• Positive Sentiment: Bank of America initiated coverage with a Buy rating and $244 price target, citing Ligand’s differentiated royalty portfolio, diversified asset base and high-margin, lower‑risk exposure to biopharma growth. Read More.
• Positive Sentiment: Analysts and outlets repeated BofA’s view that Ligand is a “low‑risk” way to get biopharma upside because it earns royalties across >100 commercial and development‑stage assets. That thematic case is driving renewed buy interest. Read More.
• Positive Sentiment: Coverage pieces (Benzinga, Proactive) emphasize the recurring, high‑margin cash flow from royalties and BofA’s $244 target (~10% upside vs. the recent open), supporting near‑term upside and providing a fresh analyst anchor for investors. Read More.
• Positive Sentiment: Market commentary aggregates show an average analyst rating of “Moderate Buy,” reinforcing the positive analyst tone and broadening the buy-side narrative. Read More.
• Positive Sentiment: Technical/market-interest pickup: IBD named Ligand its “stock of the day,” signaling momentum and potential increased retail/institutional attention. Read More.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.