Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)‘s stock had its “buy” rating reissued by analysts at Craig Hallum in a report released on Wednesday. They currently have a $170.00 price objective on the biotechnology company’s stock, up from their previous price objective of $160.00. Craig Hallum’s price objective would indicate a potential upside of 19.96% from the stock’s current price.
A number of other equities analysts have also recently issued reports on LGND. ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Roth Capital set a $158.00 price objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Monday. HC Wainwright set a $159.00 target price on Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Wednesday. TheStreet upgraded Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, August 7th. Finally, BidaskClub cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Ligand Pharmaceuticals has an average rating of “Buy” and a consensus target price of $148.83.
Ligand Pharmaceuticals (LGND) traded down $2.64 on Wednesday, hitting $141.71. The stock had a trading volume of 401,300 shares, compared to its average volume of 248,070. Ligand Pharmaceuticals has a 1 year low of $95.08 and a 1 year high of $149.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95. The stock has a market cap of $3,046.58, a PE ratio of 108.53, a P/E/G ratio of 2.23 and a beta of 0.94.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $31.04 million. During the same period in the prior year, the business earned $0.62 EPS. The company’s revenue for the quarter was up 54.4% compared to the same quarter last year. research analysts expect that Ligand Pharmaceuticals will post 2.35 EPS for the current fiscal year.
In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the completion of the transaction, the chief executive officer now 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, Director Jason Aryeh sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $127.99, for a total value of $255,980.00. Following the transaction, the director now directly owns 59,625 shares of the company’s stock, valued at approximately $7,631,403.75. The disclosure for this sale can be found here. Corporate insiders own 14.70% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LGND. Teachers Advisors LLC raised its position in Ligand Pharmaceuticals by 5.3% during the 1st quarter. Teachers Advisors LLC now owns 32,825 shares of the biotechnology company’s stock valued at $3,474,000 after purchasing an additional 1,657 shares during the last quarter. Renaissance Technologies LLC bought a new position in shares of Ligand Pharmaceuticals in the 1st quarter worth approximately $10,702,000. Schwab Charles Investment Management Inc. raised its position in shares of Ligand Pharmaceuticals by 19.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 102,959 shares of the biotechnology company’s stock worth $10,898,000 after acquiring an additional 16,899 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of Ligand Pharmaceuticals in the 1st quarter worth approximately $763,000. Finally, Capstone Asset Management Co. raised its position in shares of Ligand Pharmaceuticals by 3.7% in the 2nd quarter. Capstone Asset Management Co. now owns 2,813 shares of the biotechnology company’s stock worth $341,000 after acquiring an additional 100 shares in the last quarter.
About Ligand Pharmaceuticals
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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