Ligand Pharmaceuticals (NASDAQ:LGND) Price Target Raised to $276.00

Ligand Pharmaceuticals (NASDAQ:LGND) had its price target raised by Citigroup from $270.00 to $276.00 in a report published on Tuesday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus raised their price target on shares of Ligand Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Bank of America initiated coverage on shares of Ligand Pharmaceuticals in a research report on Wednesday, March 11th. They set a “buy” rating and a $244.00 price objective for the company. Royal Bank Of Canada lifted their target price 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. Wall Street Zen lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, HC Wainwright upped their price target on shares of Ligand Pharmaceuticals from $231.00 to $239.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $245.86.

Ligand Pharmaceuticals Stock Performance

NASDAQ LGND opened at $203.70 on Tuesday. The company has a market capitalization of $4.06 billion, a price-to-earnings ratio of 34.94, a PEG ratio of 2.52 and a beta of 1.17. The company has a quick ratio of 21.98, a current ratio of 22.23 and a debt-to-equity ratio of 0.44. Ligand Pharmaceuticals has a twelve month low of $93.58 and a twelve month high of $227.92. The stock has a fifty day simple moving average of $197.70 and a 200 day simple moving average of $191.72.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.56. Ligand Pharmaceuticals had a return on equity of 13.86% and a net margin of 46.42%.The firm had revenue of $59.67 million for the quarter, compared to analyst estimates of $55.59 million. During the same quarter in the previous year, the company posted $1.27 EPS. The business’s revenue was up 39.5% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. Sell-side analysts expect that Ligand Pharmaceuticals will post 1.73 EPS for the current year.

Insider Activity at Ligand Pharmaceuticals

In related news, insider Andrew Reardon sold 5,000 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $206.35, for a total transaction of $1,031,750.00. Following the transaction, the insider directly owned 36,869 shares of the company’s stock, valued at $7,607,918.15. This represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Octavio Espinoza sold 13,423 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $205.83, for a total transaction of $2,762,856.09. Following the completion of the sale, the chief financial officer owned 21,662 shares of the company’s stock, valued at $4,458,689.46. The trade was a 38.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 25,915 shares of company stock worth $5,373,809 over the last quarter. 7.00% of the stock is currently owned by insiders.

Institutional Trading of Ligand Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC raised its stake in Ligand Pharmaceuticals by 2.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,014 shares of the biotechnology company’s stock worth $357,000 after buying an additional 56 shares during the period. Maryland State Retirement & Pension System increased its holdings in shares of Ligand Pharmaceuticals by 2.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock valued at $543,000 after acquiring an additional 61 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Ligand Pharmaceuticals by 12.3% during the third quarter. GAMMA Investing LLC now owns 575 shares of the biotechnology company’s stock worth $102,000 after purchasing an additional 63 shares during the period. Smartleaf Asset Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 31.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 65 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in Ligand Pharmaceuticals by 86.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 69 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

About Ligand Pharmaceuticals

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.