Ligand Pharmaceuticals (NASDAQ:LGND) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Several other equities research analysts have also recently commented on the stock. Argus set a $300.00 price target on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. HC Wainwright boosted their price target on shares of Ligand Pharmaceuticals from $270.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Goldman Sachs Group initiated coverage on shares of Ligand Pharmaceuticals in a research report on Friday, August 17th. They set a “neutral” rating and a $256.00 price target on the stock. Stephens reissued a “buy” rating and set a $248.00 price target on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 8th. Finally, Craig Hallum boosted their price target on shares of Ligand Pharmaceuticals from $230.00 to $260.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $223.88.

Shares of NASDAQ:LGND opened at $202.59 on Thursday. The company has a current ratio of 2.34, a quick ratio of 2.32 and a debt-to-equity ratio of 0.96. Ligand Pharmaceuticals has a one year low of $126.50 and a one year high of $278.62. The stock has a market cap of $5.79 billion, a price-to-earnings ratio of 78.83, a price-to-earnings-growth ratio of 2.39 and a beta of 1.06.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Monday, August 6th. The biotechnology company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.34 by $0.25. Ligand Pharmaceuticals had a net margin of 52.10% and a return on equity of 25.95%. The firm had revenue of $90.00 million for the quarter, compared to analysts’ expectations of $82.20 million. During the same period in the previous year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up 221.4% on a year-over-year basis. As a group, equities analysts forecast that Ligand Pharmaceuticals will post 5.74 EPS for the current fiscal year.

In other news, CEO John L. Higgins sold 34,500 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $241.96, for a total value of $8,347,620.00. Following the sale, the chief executive officer now directly owns 110,426 shares of the company’s stock, valued at approximately $26,718,674.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Todd C. Davis sold 9,000 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $239.78, for a total transaction of $2,158,020.00. Following the completion of the sale, the director now directly owns 44,806 shares in the company, valued at $10,743,582.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,922 shares of company stock worth $30,297,452. 7.80% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of LGND. Mount Yale Investment Advisors LLC bought a new stake in shares of Ligand Pharmaceuticals in the 1st quarter valued at about $118,000. Fred Alger Management Inc. bought a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $207,000. Pennsylvania Trust Co bought a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter valued at about $210,000. World Asset Management Inc bought a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $214,000. Finally, Cim LLC bought a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $215,000.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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