BidaskClub upgraded shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a strong sell rating to a sell rating in a research report report published on Friday, BidAskClub reports.

Other research analysts have also issued reports about the company. Zacks Investment Research lowered Ligand Pharmaceuticals from a hold rating to a strong sell rating and set a $95.00 price objective on the stock. in a report on Thursday, August 8th. Argus set a $140.00 price objective on Ligand Pharmaceuticals and gave the company a buy rating in a report on Monday, June 10th. Barclays decreased their price objective on Ligand Pharmaceuticals from $131.00 to $110.00 and set an equal weight rating on the stock in a report on Monday, August 5th. ValuEngine lowered Ligand Pharmaceuticals from a buy rating to a hold rating in a report on Tuesday, July 23rd. Finally, HC Wainwright reaffirmed a buy rating and issued a $214.00 price objective (down from $254.00) on shares of Ligand Pharmaceuticals in a report on Friday, May 3rd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $147.80.

LGND stock opened at $97.08 on Friday. The company has a current ratio of 13.23, a quick ratio of 13.15 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $1.85 billion, a PE ratio of 15.46, a PEG ratio of 2.01 and a beta of 1.30. Ligand Pharmaceuticals has a 1-year low of $88.23 and a 1-year high of $278.62. The business’s 50 day simple moving average is $105.50 and its 200 day simple moving average is $115.36.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.30. The business had revenue of $24.99 million for the quarter, compared to analyst estimates of $21.01 million. Ligand Pharmaceuticals had a return on equity of 11.24% and a net margin of 389.58%. The firm’s revenue was down 72.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.59 EPS. As a group, sell-side analysts predict that Ligand Pharmaceuticals will post 2.28 EPS for the current fiscal year.

In related news, CEO John L. Higgins bought 1,850 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was purchased at an average cost of $95.45 per share, for a total transaction of $176,582.50. Following the transaction, the chief executive officer now owns 146,749 shares in the company, valued at approximately $14,007,192.05. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Jason Aryeh bought 250 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were bought at an average price of $111.01 per share, with a total value of $27,752.50. Following the completion of the transaction, the director now owns 59,868 shares in the company, valued at approximately $6,645,946.68. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 9,350 shares of company stock worth $927,504. Insiders own 8.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in LGND. Manchester Capital Management LLC bought a new stake in shares of Ligand Pharmaceuticals during the 1st quarter valued at $26,000. FTB Advisors Inc. bought a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $26,000. Tower Research Capital LLC TRC lifted its position in shares of Ligand Pharmaceuticals by 188.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 149 shares during the period. FinTrust Capital Advisors LLC lifted its position in shares of Ligand Pharmaceuticals by 64.4% during the 1st quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 132 shares during the period. Finally, Valeo Financial Advisors LLC bought a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $46,000.

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; Aziyo portfolio of 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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