Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) had its target price hoisted by Roth Capital from $120.00 to $135.00 in a research report issued on Tuesday. Roth Capital’s price objective points to a potential upside of 10.81% from the company’s previous close.

Several other equities analysts have also recently weighed in on LGND. Zacks Investment Research cut Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, May 15th. BidaskClub cut Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 19th. Deutsche Bank AG reiterated a “hold” rating and set a $103.00 price objective (up previously from $100.00) on shares of Ligand Pharmaceuticals in a report on Monday, July 17th. Finally, ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Five analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Ligand Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $132.33.

Ligand Pharmaceuticals (NASDAQ LGND) opened at 121.83 on Tuesday. The firm’s market cap is $2.56 billion. Ligand Pharmaceuticals has a one year low of $87.50 and a one year high of $130.06. The stock has a 50 day moving average price of $119.76 and a 200-day moving average price of $110.74.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.21. Ligand Pharmaceuticals had a positive return on equity of 2.57% and a negative net margin of 2.91%. The firm had revenue of $28 million for the quarter, compared to analysts’ expectations of $24.40 million. During the same quarter last year, the business earned $0.50 earnings per share. The company’s revenue was up 43.6% compared to the same quarter last year. Analysts predict that Ligand Pharmaceuticals will post $2.66 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first posted by Daily Political and is owned by of Daily Political. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The correct version of this piece of content can be viewed at https://www.dailypolitical.com/2017/08/08/ligand-pharmaceuticals-incorporated-lgnd-price-target-raised-to-135-00-at-roth-capital.html.

In other news, insider Matthew W. Foehr sold 5,621 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $112.20, for a total transaction of $630,676.20. Following the transaction, the insider now owns 98,341 shares in the company, valued at approximately $11,033,860.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John L. Higgins sold 4,666 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $120.00, for a total value of $559,920.00. Following the completion of the sale, the chief executive officer now directly owns 143,837 shares in the company, valued at approximately $17,260,440. The disclosure for this sale can be found here. Insiders have sold a total of 59,534 shares of company stock worth $6,694,514 in the last quarter. 14.70% of the stock is currently owned by company insiders.

A number of large investors have recently made changes to their positions in LGND. BlackRock Inc. raised its stake in shares of Ligand Pharmaceuticals by 166,566.2% in the first quarter. BlackRock Inc. now owns 2,614,993 shares of the biotechnology company’s stock worth $276,770,000 after buying an additional 2,613,424 shares in the last quarter. William Blair Investment Management LLC raised its stake in shares of Ligand Pharmaceuticals by 2.6% in the second quarter. William Blair Investment Management LLC now owns 1,773,434 shares of the biotechnology company’s stock worth $215,295,000 after buying an additional 45,256 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Ligand Pharmaceuticals by 4.6% in the first quarter. Vanguard Group Inc. now owns 1,687,618 shares of the biotechnology company’s stock worth $178,618,000 after buying an additional 74,193 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of Ligand Pharmaceuticals by 8.0% in the first quarter. Stephens Investment Management Group LLC now owns 448,479 shares of the biotechnology company’s stock worth $47,467,000 after buying an additional 33,144 shares in the last quarter. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Ligand Pharmaceuticals by 7.0% in the second quarter. Conestoga Capital Advisors LLC now owns 385,869 shares of the biotechnology company’s stock worth $46,844,000 after buying an additional 25,095 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 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.

Receive News & Ratings for Ligand Pharmaceuticals Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.