Ligand Pharmaceuticals Inc. (LGND) PT Raised to $160.00
Ligand Pharmaceuticals Inc. (NASDAQ:LGND) had its price objective hoisted by analysts at Craig Hallum from $150.00 to $160.00 in a report released on Wednesday. Craig Hallum’s target price would indicate a potential upside of 62.37% from the stock’s previous close.
Other equities analysts have also recently issued reports about the stock. Roth Capital reaffirmed a “buy” rating and issued a $149.00 target price on shares of Ligand Pharmaceuticals in a report on Sunday, August 14th. HC Wainwright reissued a “buy” rating and issued a $160.00 price objective (up from $146.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday. Deutsche Bank AG raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and dropped their price objective for the company from $110.00 to $105.00 in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Finally, Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 5th. One 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 company’s stock. Ligand Pharmaceuticals currently has a consensus rating of “Buy” and an average target price of $139.25.
Ligand Pharmaceuticals (NASDAQ:LGND) opened at 98.54 on Wednesday. The stock has a market capitalization of $2.05 billion, a P/E ratio of 9.29 and a beta of 1.23. Ligand Pharmaceuticals has a 1-year low of $82.06 and a 1-year high of $139.79. The stock has a 50 day moving average of $108.19 and a 200 day moving average of $116.97.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, August 4th. The biotechnology company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The business had revenue of $19.50 million for the quarter, compared to analysts’ expectations of $18.12 million. Ligand Pharmaceuticals had a net margin of 263.14% and a return on equity of 11.64%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.81 EPS. On average, analysts expect that Ligand Pharmaceuticals will post $3.44 earnings per share for the current year.
In other news, CEO John L. Higgins sold 3,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $117.34, for a total transaction of $352,020.00. Following the transaction, the chief executive officer now directly owns 122,664 shares of the company’s stock, valued at approximately $14,393,393.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John W. Kozarich sold 1,666 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $105.40, for a total transaction 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 disclosure for this sale can be found here. Insiders own 14.70% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Aperio Group LLC raised its stake in Ligand Pharmaceuticals by 45.0% in the first quarter. Aperio Group LLC now owns 5,833 shares of the biotechnology company’s stock valued at $625,000 after buying an additional 1,810 shares in the last quarter. Virginia Retirement System acquired a new stake in Ligand Pharmaceuticals during the first quarter valued at approximately $1,446,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Ligand Pharmaceuticals during the first quarter valued at approximately $207,000. TIAA CREF Investment Management LLC raised its stake in Ligand Pharmaceuticals by 72.0% in the first quarter. TIAA CREF Investment Management LLC now owns 108,870 shares of the biotechnology company’s stock valued at $11,659,000 after buying an additional 45,583 shares in the last quarter. Finally, Teachers Advisors Inc. raised its stake in Ligand Pharmaceuticals by 291.3% in the first quarter. Teachers Advisors Inc. now owns 100,617 shares of the biotechnology company’s stock valued at $10,775,000 after buying an additional 74,901 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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