BidaskClub lowered shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) from a buy rating to a hold rating in a research report released on Tuesday morning.

Several other equities analysts have also recently issued reports on the stock. Deutsche Bank AG reiterated a hold rating and issued a $103.00 target price (up from $100.00) on shares of Ligand Pharmaceuticals in a research note on Monday, July 17th. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a strong sell rating to a hold rating in a report on Tuesday, July 11th. ValuEngine raised shares of Ligand Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, June 22nd. Finally, Roth Capital set a $120.00 price target on shares of Ligand Pharmaceuticals and gave the stock a buy rating in a report on Monday, May 22nd. Five research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $130.18.

Shares of Ligand Pharmaceuticals (LGND) traded up 0.16% during mid-day trading on Tuesday, hitting $122.06. 132,961 shares of the stock were exchanged. Ligand Pharmaceuticals has a 52-week low of $87.50 and a 52-week high of $136.64. The company’s market cap is $2.56 billion. The stock’s 50-day moving average price is $119.76 and its 200-day moving average price is $110.74.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Tuesday, May 9th. The biotechnology company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.16. Ligand Pharmaceuticals had a negative net margin of 2.91% and a positive return on equity of 2.57%. The firm had revenue of $29.27 million during the quarter, compared to analyst estimates of $30.25 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. Equities research analysts anticipate that Ligand Pharmaceuticals will post $2.66 earnings per share for the current fiscal year.

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In other news, insider Matthew W. Foehr sold 5,621 shares of the company’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $112.20, for a total transaction of $630,676.20. Following the completion of the sale, the insider now owns 98,341 shares of the company’s stock, valued at $11,033,860.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John L. Higgins sold 4,666 shares of the company’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $120.00, for a total transaction of $559,920.00. Following the sale, the chief executive officer now directly owns 143,837 shares of the company’s stock, valued at approximately $17,260,440. The disclosure for this sale can be found here. Insiders have sold 59,534 shares of company stock valued at $6,694,514 in the last ninety days. Insiders own 14.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the company. Independent Portfolio Consultants Inc. raised its stake in Ligand Pharmaceuticals by 1.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,555 shares of the biotechnology company’s stock worth $165,000 after buying an additional 15 shares during the last quarter. First Mercantile Trust Co. raised its stake in Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after buying an additional 20 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Ligand Pharmaceuticals by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,100 shares of the biotechnology company’s stock worth $222,000 after buying an additional 40 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its stake in Ligand Pharmaceuticals by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,350 shares of the biotechnology company’s stock worth $460,000 after buying an additional 40 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its stake in Ligand Pharmaceuticals by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 8,609 shares of the biotechnology company’s stock worth $1,045,000 after buying an additional 51 shares during the last quarter.

Ligand Pharmaceuticals Company Profile

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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