Ligand Pharmaceuticals Inc. (LGND) Trading 2.5% Higher
Ligand Pharmaceuticals Inc. (NASDAQ:LGND) shares traded up 2.5% on Thursday . The stock traded as high as $105.99 and last traded at $104.94, with a volume of 262,283 shares. The stock had previously closed at $102.40.
Several research analysts have weighed in on the company. Roth Capital restated a “buy” rating and issued a $147.00 price target on shares of Ligand Pharmaceuticals in a research note on Tuesday, July 19th. Deutsche Bank AG downgraded Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and increased their price target for the stock from $104.00 to $110.00 in a research 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 objective on the stock in a research 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 objective on the stock in a research report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, five have given a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $136.90.
The stock has a market capitalization of $2.16 billion and a PE ratio of 9.76. The stock has a 50-day moving average of $122.07 and a 200 day moving average of $114.14.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.10. During the same quarter in the prior year, the firm posted $1.81 EPS. The firm earned $19.50 million during the quarter, compared to analysts’ expectations of $18.12 million. Ligand Pharmaceuticals’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Ligand Pharmaceuticals Inc. will post $3.45 EPS for the current year.
In related news, Director John W. Kozarich sold 1,000 shares of the business’s stock in a transaction on Friday, July 1st. The stock was sold at an average price of $121.40, for a total value of $121,400.00. Following the sale, the director now owns 42,883 shares in the company, valued at approximately $5,205,996.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
An institutional investor recently bought a new position in Ligand Pharmaceuticals stock. Matarin Capital Management LLC purchased a new stake in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,109 shares of the biotechnology company’s stock, valued at approximately $1,963,000. Matarin Capital Management LLC owned 0.09% of Ligand Pharmaceuticals as of its most recent filing with the SEC.
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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