Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) have received a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $239.3333.

LGND has been the subject of a number of analyst reports. Oppenheimer upped their price objective on shares of Ligand Pharmaceuticals from $190.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Royal Bank Of Canada boosted their price target on shares of Ligand Pharmaceuticals from $234.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 10th. Citigroup started coverage on shares of Ligand Pharmaceuticals in a research report on Tuesday, December 9th. They issued a “buy” rating and a $270.00 price objective for the company. HC Wainwright lifted their price objective on Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ligand Pharmaceuticals in a research note on Monday, December 29th.

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 1,804 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $188.31, for a total value of $339,711.24. Following the completion of the transaction, the chief financial officer owned 26,186 shares in the company, valued at approximately $4,931,085.66. This represents a 6.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Kozarich sold 467 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $195.91, for a total transaction of $91,489.97. Following the sale, the director owned 43,187 shares in the company, valued at $8,460,765.17. The trade was a 1.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 3,205 shares of company stock worth $611,192 in the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its stake in shares of Ligand Pharmaceuticals by 25.8% during the 1st quarter. Royal Bank of Canada now owns 6,120 shares of the biotechnology company’s stock worth $644,000 after acquiring an additional 1,256 shares in the last quarter. AQR Capital Management LLC acquired a new position in Ligand Pharmaceuticals during the first quarter worth $344,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Ligand Pharmaceuticals by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,660 shares of the biotechnology company’s stock worth $1,121,000 after purchasing an additional 809 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Ligand Pharmaceuticals by 9.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,327 shares of the biotechnology company’s stock valued at $5,817,000 after purchasing an additional 4,926 shares during the last quarter. Finally, Jane Street Group LLC increased its position in shares of Ligand Pharmaceuticals by 176.2% in the first quarter. Jane Street Group LLC now owns 36,922 shares of the biotechnology company’s stock valued at $3,882,000 after buying an additional 23,553 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Stock Down 1.9%

Ligand Pharmaceuticals stock opened at $186.32 on Friday. The stock has a 50 day moving average of $193.98 and a two-hundred day moving average of $183.38. Ligand Pharmaceuticals has a twelve month low of $93.58 and a twelve month high of $212.49. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 90.01 and a beta of 1.14. The company has a current ratio of 24.69, a quick ratio of 24.30 and a debt-to-equity ratio of 0.47.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.