Ligand Pharmaceuticals Inc. (LGND) Rating Reiterated by Roth Capital
Ligand Pharmaceuticals Inc. (NASDAQ:LGND)‘s stock had its “buy” rating reissued by research analysts at Roth Capital in a research note issued on Tuesday. They currently have a $151.00 price objective on the biotechnology company’s stock. Roth Capital’s target price would suggest a potential upside of 29.10% from the company’s previous close.
LGND has been the topic of a number of other research reports. Deutsche Bank AG raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and reduced their price target for the stock from $110.00 to $105.00 in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Vetr raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 target price on the stock in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $136.47.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) opened at 116.96 on Tuesday. The company’s 50 day moving average price is $112.23 and its 200-day moving average price is $116.64. Ligand Pharmaceuticals has a 52 week low of $79.66 and a 52 week high of $139.79. The firm has a market capitalization of $2.44 billion, a PE ratio of 11.03 and a beta of 1.27.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. The business had revenue of $19.50 million for the quarter, compared to the consensus estimate of $18.12 million. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. 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 business posted $1.81 earnings per share. On average, equities research analysts expect that Ligand Pharmaceuticals will post $3.45 EPS for the current fiscal year.
In other news, Director John W. Kozarich sold 1,666 shares of the stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $105.40, for a total value of $175,596.40. Following the completion of the transaction, the director now directly owns 40,783 shares in the company, valued at approximately $4,298,528.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Kozarich sold 1,000 shares of the stock in a transaction on Friday, July 1st. The shares were sold at an average price of $121.40, for a total value of $121,400.00. Following the completion of the transaction, the director now owns 42,883 shares of the company’s stock, valued at $5,205,996.20. The disclosure for this sale can be found here. 14.70% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in LGND. Howe & Rusling Inc. boosted its position in shares of Ligand Pharmaceuticals by 8.3% in the second quarter. Howe & Rusling Inc. now owns 1,375 shares of the biotechnology company’s stock worth $164,000 after buying an additional 105 shares during the last quarter. BlackRock Inc. raised its position in shares of Ligand Pharmaceuticals by 165.1% in the first quarter. BlackRock Inc. now owns 1,381 shares of the biotechnology company’s stock valued at $147,000 after buying an additional 860 shares in the last quarter. US Bancorp DE raised its position in shares of Ligand Pharmaceuticals by 73.4% in the second quarter. US Bancorp DE now owns 1,408 shares of the biotechnology company’s stock valued at $168,000 after buying an additional 596 shares in the last quarter. Independent Portfolio Consultants Inc. raised its position in shares of Ligand Pharmaceuticals by 1,410.0% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,510 shares of the biotechnology company’s stock valued at $180,000 after buying an additional 1,410 shares in the last quarter. Finally, Strs Ohio raised its position in shares of Ligand Pharmaceuticals by 166.7% in the second quarter. Strs Ohio now owns 1,600 shares of the biotechnology company’s stock valued at $190,000 after buying an additional 1,000 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 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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