Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) have earned an average rating of “Buy” from the eight analysts that are currently covering the stock. One analyst has rated the stock with a hold recommendation, five have assigned a buy recommendation and two have issued a strong buy recommendation on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $136.33.
A number of research analysts recently issued reports on LGND shares. Roth Capital reiterated a “buy” rating and set a $151.00 target price on shares of Ligand Pharmaceuticals in a research report on Tuesday, September 20th. Deutsche Bank AG upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and dropped their target price for the company from $110.00 to $105.00 in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Finally, Vetr upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 target price on the stock in a research report on Wednesday, August 10th.
Ligand Pharmaceuticals (NASDAQ:LGND) traded down 0.96% on Monday, reaching $101.08. 155,480 shares of the company were exchanged. The company’s 50-day moving average price is $109.46 and its 200-day moving average price is $116.89. Ligand Pharmaceuticals has a 12-month low of $81.79 and a 12-month high of $139.79. The stock has a market capitalization of $2.11 billion, a P/E ratio of 9.53 and a beta of 1.23.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. Ligand Pharmaceuticals had a net margin of 263.14% and a return on equity of 11.64%. The company had revenue of $19.50 million for the quarter, compared to the consensus estimate of $18.12 million. During the same quarter in the previous year, the company earned $1.81 EPS. Ligand Pharmaceuticals’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities research analysts anticipate that Ligand Pharmaceuticals will post $3.45 earnings per share for the current fiscal year.
In other news, Director John W. Kozarich sold 1,666 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $105.40, for a total value of $175,596.40. Following the completion of the sale, the director now owns 40,783 shares in the company, valued at $4,298,528.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John W. Kozarich sold 1,000 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $137.57, for a total transaction of $137,570.00. Following the completion of the sale, the director now owns 41,783 shares of the company’s stock, valued at approximately $5,748,087.31. The disclosure for this sale can be found here. 14.70% of the stock is currently owned by insiders.
Several hedge funds have recently made changes to their positions in the stock. 1832 Asset Management L.P. purchased a new stake in shares of Ligand Pharmaceuticals during the first quarter valued at approximately $80,340,000. Canada Pension Plan Investment Board increased its stake in shares of Ligand Pharmaceuticals by 9.7% in the first quarter. Canada Pension Plan Investment Board now owns 42,900 shares of the biotechnology company’s stock valued at $4,594,000 after buying an additional 3,800 shares in the last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Ligand Pharmaceuticals during the first quarter valued at approximately $268,000. Columbia Partners L L C Investment Management increased its stake in shares of Ligand Pharmaceuticals by 107.9% in the first quarter. Columbia Partners L L C Investment Management now owns 44,838 shares of the biotechnology company’s stock valued at $4,801,000 after buying an additional 23,271 shares in the last quarter. Finally, BlackRock Fund Advisors increased its stake in shares of Ligand Pharmaceuticals by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,377,004 shares of the biotechnology company’s stock valued at $147,463,000 after buying an additional 23,969 shares in the last quarter.
Ligand Pharmaceuticals Company Profile
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 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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