Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives Consensus Recommendation of “Buy” from Brokerages

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has been given a consensus recommendation of “Buy” by the six research firms that are covering the company, Marketbeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $147.00.

A number of equities research analysts recently weighed in on LGND shares. Barclays upped their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Oppenheimer increased their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Finally, Royal Bank of Canada raised their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total value of $297,501.90. Following the sale, the director now directly owns 29,515 shares in the company, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $116.37, for a total transaction of $244,842.48. Following the transaction, the chief financial officer now owns 20,647 shares of the company’s stock, valued at $2,402,691.39. This represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Institutional Trading of Ligand Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the business. HighTower Advisors LLC grew its stake in Ligand Pharmaceuticals by 7.8% in the 4th quarter. HighTower Advisors LLC now owns 5,542 shares of the biotechnology company’s stock valued at $594,000 after buying an additional 400 shares in the last quarter. Amundi boosted its holdings in shares of Ligand Pharmaceuticals by 196.9% in the fourth quarter. Amundi now owns 9,548 shares of the biotechnology company’s stock worth $1,056,000 after acquiring an additional 6,332 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at $209,000. Callan Family Office LLC bought a new stake in shares of Ligand Pharmaceuticals during the 4th quarter valued at $261,000. Finally, Lisanti Capital Growth LLC lifted its holdings in Ligand Pharmaceuticals by 57.4% during the 4th quarter. Lisanti Capital Growth LLC now owns 39,010 shares of the biotechnology company’s stock worth $4,180,000 after purchasing an additional 14,225 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Trading Down 2.2 %

Shares of LGND stock opened at $115.19 on Wednesday. Ligand Pharmaceuticals has a 12 month low of $67.72 and a 12 month high of $129.90. The firm has a market capitalization of $2.18 billion, a PE ratio of 45.89 and a beta of 1.04. The firm has a fifty day simple moving average of $114.54 and a two-hundred day simple moving average of $109.68.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.