Brokerages Set Ligand Pharmaceuticals Incorporated (LGND) PT at $149.00
Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) have earned an average rating of “Buy” from the nine brokerages that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $149.67.
A number of equities research analysts recently weighed in on LGND shares. Zacks Investment Research cut Ligand Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. HC Wainwright restated a “buy” rating and issued a $157.00 price target on shares of Ligand Pharmaceuticals in a report on Thursday, October 5th. Deutsche Bank cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price target on the stock. in a report on Monday, November 20th. Roth Capital restated a “buy” rating and issued a $158.00 price target (up previously from $135.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 11th. Finally, ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th.
Shares of Ligand Pharmaceuticals (LGND) traded up $0.24 during mid-day trading on Friday, hitting $130.86. The stock had a trading volume of 153,900 shares, compared to its average volume of 249,200. The stock has a market cap of $2,822.01, a P/E ratio of 100.53, a price-to-earnings-growth ratio of 2.07 and a beta of 0.94. Ligand Pharmaceuticals has a fifty-two week low of $95.08 and a fifty-two week high of $149.31. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.05.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.32. The business had revenue of $33.38 million for the quarter, compared to analysts’ expectations of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The company’s revenue was up 54.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.62 EPS. analysts expect that Ligand Pharmaceuticals will post 2.35 earnings per share for the current year.
In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 5,000 shares of the stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the sale, the chief executive officer now owns 144,171 shares in the company, valued at approximately $18,742,230. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Matthew E. Korenberg sold 6,559 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $142.63, for a total value of $935,510.17. Following the sale, the vice president now owns 8,147 shares in the company, valued at approximately $1,162,006.61. The disclosure for this sale can be found here. In the last quarter, insiders have sold 21,828 shares of company stock worth $3,045,051. 8.30% of the stock is owned by insiders.
A number of large investors have recently made changes to their positions in LGND. Janus Henderson Group PLC acquired a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at $72,293,000. Russell Investments Group Ltd. grew its holdings in Ligand Pharmaceuticals by 38.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 372,465 shares of the biotechnology company’s stock valued at $45,217,000 after buying an additional 102,892 shares during the last quarter. Stifel Financial Corp grew its holdings in Ligand Pharmaceuticals by 1,447.2% during the 3rd quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock valued at $14,839,000 after buying an additional 102,071 shares during the last quarter. Macquarie Group Ltd. grew its holdings in Ligand Pharmaceuticals by 27.3% during the 2nd quarter. Macquarie Group Ltd. now owns 471,058 shares of the biotechnology company’s stock valued at $57,186,000 after buying an additional 101,073 shares during the last quarter. Finally, Castleark Management LLC acquired a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at $9,552,000.
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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.
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