Ligand Pharmaceuticals Inc. (LGND) Shares Up 3%
Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) shot up 3% on Thursday . The company traded as high as $106.46 and last traded at $106.40, with a volume of 154,202 shares. The stock had previously closed at $103.31.
A number of research firms have recently weighed in on LGND. Roth Capital reiterated a “buy” rating and issued a $147.00 price objective on shares of Ligand Pharmaceuticals in a research note on Saturday, July 9th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $135.00 price target on the stock in a research report on Tuesday, August 9th. Vetr upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price target on the stock in a research report on Wednesday, August 10th. Finally, Deutsche Bank AG lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and raised their price target for the company from $104.00 to $110.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $136.90.
The firm has a market capitalization of $2.21 billion and a PE ratio of 10.01. The company’s 50 day moving average is $119.01 and its 200-day moving average is $114.57.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.10. The business earned $19.50 million during the quarter, compared to analysts’ expectations of $18.12 million. During the same quarter in the previous year, the business posted $1.81 EPS. The company’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that Ligand Pharmaceuticals Inc. will post $3.45 earnings per share for the current year.
In related news, Director John W. Kozarich sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $137.57, for a total value of $137,570.00. Following the transaction, the director now owns 41,783 shares in the company, valued at $5,748,087.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
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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