Ligand Pharmaceuticals Inc. (LGND) Stock Price Down 2.3%
Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) fell 2.3% during trading on Wednesday . The company traded as low as $107.29 and last traded at $108.32, with a volume of 242,661 shares. The stock had previously closed at $110.92.
A number of brokerages have recently commented on LGND. Roth Capital restated a “buy” rating and issued a $147.00 target price on shares of Ligand Pharmaceuticals in a research note on Tuesday, July 19th. Deutsche Bank AG cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and upped their price target for the stock from $104.00 to $110.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Vetr raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price target for the company in a report on Wednesday, August 10th. Finally, Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $135.00 price target for the company in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $136.90.
The company’s 50-day moving average price is $125.40 and its 200 day moving average price is $113.83. The stock has a market capitalization of $2.26 billion and a price-to-earnings ratio of 10.24.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $19.50 million for the quarter, compared to analyst estimates of $18.12 million. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.81 EPS. Equities analysts expect that Ligand Pharmaceuticals Inc. will post $3.45 EPS for the current fiscal year.
In other news, Director John W. Kozarich sold 1,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $121.40, for a total transaction of $121,400.00. Following the completion of the sale, the director now owns 42,883 shares in the company, valued at approximately $5,205,996.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Other hedge funds and institutional investors have recently modified their holdings of the company. Airain ltd purchased a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth about $3,205,000. State of Tennessee Treasury Department purchased a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth about $1,518,000. Matarin Capital Management LLC purchased a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth about $1,963,000. Redwood Investments LLC boosted its position in shares of Ligand Pharmaceuticals by 18.3% in the fourth quarter. Redwood Investments LLC now owns 18,759 shares of the biotechnology company’s stock worth $2,034,000 after buying an additional 2,903 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Ligand Pharmaceuticals by 4.9% in the fourth quarter. Principal Financial Group Inc. now owns 122,475 shares of the biotechnology company’s stock worth $13,279,000 after buying an additional 5,707 shares in the last quarter.
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 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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