Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has been given an average rating of “Buy” by the nine research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $149.00.
Several brokerages have weighed in on LGND. HC Wainwright reaffirmed a “buy” rating and set a $157.00 price target on shares of Ligand Pharmaceuticals in a research report on Monday, November 6th. Craig Hallum reaffirmed a “buy” rating and set a $170.00 price target (up from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. Roth Capital reaffirmed a “buy” rating and set a $158.00 price target (up from $135.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, October 11th. Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 price target on the stock in a research report on Thursday, October 12th. Finally, Deutsche Bank AG lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a research note on Monday, November 20th.
In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $130.00, for a total value of $650,000.00. Following the transaction, the chief executive officer now directly owns 144,171 shares of the company’s stock, valued at approximately $18,742,230. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Matthew E. Korenberg sold 6,559 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $142.63, for a total transaction of $935,510.17. Following the completion of the transaction, the vice president now directly owns 8,147 shares in the company, valued at $1,162,006.61. The disclosure for this sale can be found here. Insiders sold a total of 21,828 shares of company stock worth $3,045,051 over the last ninety days. 8.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Eagle Asset Management Inc. increased its holdings in Ligand Pharmaceuticals by 7.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock valued at $59,588,000 after purchasing an additional 35,289 shares during the last quarter. Round Table Services LLC acquired a new stake in Ligand Pharmaceuticals in the 3rd quarter valued at approximately $205,000. Teacher Retirement System of Texas acquired a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $203,000. Willingdon Wealth Management increased its holdings in Ligand Pharmaceuticals by 1.4% in the 2nd quarter. Willingdon Wealth Management now owns 14,204 shares of the biotechnology company’s stock valued at $1,724,000 after purchasing an additional 193 shares during the last quarter. Finally, Morse Asset Management Inc acquired a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $1,078,000.
Ligand Pharmaceuticals (NASDAQ LGND) opened at $133.71 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals has a 12-month low of $95.08 and a 12-month high of $149.31. The stock has a market capitalization of $2,821.95, a price-to-earnings ratio of 100.53, a PEG ratio of 2.07 and a beta of 0.94.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $33.38 million for the quarter, compared to the consensus estimate of $31.04 million. During the same period in the prior year, the firm earned $0.62 EPS. The firm’s revenue was up 54.4% on a year-over-year basis. equities research analysts anticipate that Ligand Pharmaceuticals will post 2.35 EPS for the current year.
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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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