Ligand Pharmaceuticals (NASDAQ:LGND) received a $169.00 target price from HC Wainwright in a report released on Wednesday, January 3rd. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 14.23% from the company’s current price.
A number of other equities analysts have also weighed in on LGND. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. Roth Capital reiterated a “buy” rating and set a $158.00 target price (up from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. Craig Hallum reiterated a “buy” rating and set a $170.00 target price (up from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. Finally, Deutsche Bank lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price for the company. in a research note on Monday, November 20th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $150.67.
Ligand Pharmaceuticals (NASDAQ LGND) traded up $1.78 during mid-day trading on Wednesday, hitting $147.95. 177,800 shares of the stock traded hands, compared to its average volume of 220,300. Ligand Pharmaceuticals has a 1 year low of $95.08 and a 1 year high of $149.31. The stock has a market capitalization of $3,140.00, a price-to-earnings ratio of 214.42, a price-to-earnings-growth ratio of 1.51 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.32. Ligand Pharmaceuticals had a net margin of 12.76% and a return on equity of 7.83%. The company had revenue of $33.38 million during the quarter, compared to analyst estimates of $31.04 million. During the same period in the previous year, the business earned $0.62 EPS. The firm’s revenue for the quarter was up 54.4% on a year-over-year basis. analysts forecast that Ligand Pharmaceuticals will post 3.15 earnings per share for the current year.
In related news, VP Matthew E. Korenberg sold 6,559 shares of the company’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $142.63, for a total value of $935,510.17. Following the completion of the transaction, the vice president now owns 8,147 shares of the company’s stock, valued at approximately $1,162,006.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen L. Sabba sold 925 shares of the company’s stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $137.25, for a total transaction of $126,956.25. Following the completion of the transaction, the director now directly owns 26,985 shares of the company’s stock, valued at approximately $3,703,691.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,253 shares of company stock valued at $2,884,507. Insiders own 8.30% of the company’s stock.
A number of hedge funds have recently made changes to their positions in LGND. Janus Henderson Group PLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth $72,293,000. Stifel Financial Corp lifted its stake in Ligand Pharmaceuticals by 1,447.2% in the 3rd quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock worth $14,839,000 after purchasing an additional 102,071 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Ligand Pharmaceuticals by 27.3% in the 2nd quarter. Macquarie Group Ltd. now owns 471,058 shares of the biotechnology company’s stock worth $57,186,000 after purchasing an additional 101,073 shares in the last quarter. Castleark Management LLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth $9,552,000. Finally, Royal Bank of Canada lifted its stake in Ligand Pharmaceuticals by 85.4% in the 2nd quarter. Royal Bank of Canada now owns 167,943 shares of the biotechnology company’s stock worth $20,388,000 after purchasing an additional 77,337 shares in the last quarter.
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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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