Ligand Pharmaceuticals (NASDAQ:LGND) Stock Price Up 6.9% – Should You Buy?

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)’s stock price shot up 6.9% on Wednesday . The stock traded as high as $227.48 and last traded at $226.86. 141,803 shares changed hands during trading, a decline of 33% from the average session volume of 210,412 shares. The stock had previously closed at $212.29.

Analyst Ratings Changes

Several research firms recently commented on LGND. Citigroup began coverage on shares of Ligand Pharmaceuticals in a research report on Tuesday, December 9th. They set a “buy” rating and a $270.00 price target on the stock. Bank of America assumed coverage on shares of Ligand Pharmaceuticals in a research note on Wednesday. They set a “buy” rating and a $244.00 target price on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a research report on Monday, December 29th. Stifel Nicolaus lifted their price target on Ligand Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Wall Street Zen downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $245.00.

Ligand Pharmaceuticals Trading Down 4.7%

The company’s fifty day simple moving average is $196.02 and its 200-day simple moving average is $188.73. The firm has a market capitalization of $4.02 billion, a PE ratio of 34.65 and a beta of 1.17. The company has a debt-to-equity ratio of 0.44, a current ratio of 22.23 and a quick ratio of 21.98.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, February 26th. The biotechnology company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.56. The business had revenue of $59.67 million during the quarter, compared to analysts’ expectations of $55.59 million. Ligand Pharmaceuticals had a net margin of 46.42% and a return on equity of 13.86%. The company’s quarterly revenue was up 39.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.27 earnings per share. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. As a group, sell-side analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current fiscal year.

Insider Transactions at Ligand Pharmaceuticals

In other news, Director Stephen L. Sabba sold 2,034 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $201.50, for a total value of $409,851.00. Following the transaction, the director owned 33,793 shares in the company, valued at $6,809,289.50. This trade represents a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Octavio Espinoza sold 13,423 shares of Ligand Pharmaceuticals stock in a transaction that occurred 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 completion of the sale, the chief financial officer directly owned 21,662 shares in the company, valued at $4,458,689.46. This represents a 38.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,858 shares of company stock worth $4,478,114 over the last three months. 7.00% of the stock is owned by insiders.

Institutional Trading of Ligand Pharmaceuticals

Hedge funds have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC lifted its position in Ligand Pharmaceuticals by 2.9% during the third quarter. Ashton Thomas Private Wealth LLC now owns 2,014 shares of the biotechnology company’s stock worth $357,000 after buying an additional 56 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in Ligand Pharmaceuticals by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock valued at $543,000 after buying an additional 61 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Ligand Pharmaceuticals by 12.3% during the 3rd quarter. GAMMA Investing LLC now owns 575 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 63 shares during the period. Smartleaf Asset Management LLC boosted its position in shares of Ligand Pharmaceuticals by 31.6% during the third quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock worth $47,000 after buying an additional 65 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of 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 buying an additional 69 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

About Ligand Pharmaceuticals

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.