HC Wainwright restated their buy rating on shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) in a research report report published on Wednesday morning. HC Wainwright currently has a $160.00 target price on the biotechnology company’s stock, up from their previous target price of $146.00.

LGND has been the topic of several other research reports. Roth Capital reiterated a buy rating and set a $150.00 price target (down previously from $151.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, September 28th. Deutsche Bank AG cut shares of Ligand Pharmaceuticals from a hold rating to a sell rating and boosted their price target for the company from $104.00 to $110.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Vetr upgraded shares of Ligand Pharmaceuticals from a buy rating to a strong-buy rating and set a $128.29 price target on the stock in a research report on Wednesday, August 10th. Finally, Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a hold rating to a strong-buy rating and set a $135.00 price objective on the stock in a report on Tuesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $139.25.

Ligand Pharmaceuticals (NASDAQ:LGND) opened at 101.28 on Wednesday. The firm’s 50 day moving average is $108.47 and its 200 day moving average is $117.10. Ligand Pharmaceuticals has a 52-week low of $82.06 and a 52-week high of $139.79. The company has a market cap of $2.11 billion, a PE ratio of 9.55 and a beta of 1.23.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, beating the 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 analysts’ expectations of $18.12 million. During the same quarter in the previous year, the company earned $1.81 earnings per share. Ligand Pharmaceuticals’s quarterly revenue was up 6.0% on a year-over-year basis. Analysts forecast that Ligand Pharmaceuticals will post $3.45 EPS for the current fiscal year.

In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 1,666 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $105.40, for a total value of $175,596.40. Following the transaction, the director now directly owns 40,783 shares in the company, valued at $4,298,528.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John L. Higgins sold 3,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $117.34, for a total transaction of $352,020.00. Following the completion of the transaction, the chief executive officer now owns 122,664 shares in the company, valued at $14,393,393.76. The disclosure for this sale can be found here. 14.70% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LGND. Meridian Investment Counsel Inc. increased its position in Ligand Pharmaceuticals by 1.0% in the second quarter. Meridian Investment Counsel Inc. now owns 2,920 shares of the biotechnology company’s stock valued at $348,000 after buying an additional 30 shares during the last quarter. Hanseatic Management Services Inc. increased its stake in shares of Ligand Pharmaceuticals by 0.8% in the second quarter. Hanseatic Management Services Inc. now owns 7,819 shares of the biotechnology company’s stock valued at $933,000 after buying an additional 60 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Ligand Pharmaceuticals by 4.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,575 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 65 shares during the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of Ligand Pharmaceuticals by 1.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,753 shares of the biotechnology company’s stock valued at $686,000 after buying an additional 100 shares during the last quarter. Finally, Howe & Rusling Inc. increased its stake in shares of Ligand Pharmaceuticals by 8.3% in the second quarter. Howe & Rusling Inc. now owns 1,375 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 105 shares during 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.

5 Day Chart for NASDAQ:LGND

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