TheStreet cut shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) from a buy rating to a hold rating in a report published on Friday morning.

Other equities analysts have also issued research reports about the company. Roth Capital reaffirmed a buy rating and set a $147.00 price objective on shares of Ligand Pharmaceuticals in a report on Saturday, July 9th. CJS Securities dropped their price objective on Ligand Pharmaceuticals from $130.00 to $125.00 and set an outperform rating on the stock in a report on Wednesday, September 28th. Zacks Investment Research raised 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. Vetr raised Ligand Pharmaceuticals from a buy rating to a strong-buy rating and set a $128.29 price objective on the stock in a report on Wednesday, August 10th. Finally, Deutsche Bank AG lowered Ligand Pharmaceuticals from a hold rating to a sell rating and raised their price objective for the stock from $104.00 to $110.00 in a report on Friday, August 5th. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $139.25.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

Ligand Pharmaceuticals (NASDAQ:LGND) traded up 4.38% during mid-day trading on Friday, reaching $101.58. The company’s stock had a trading volume of 338,192 shares. The firm has a market cap of $2.12 billion, a PE ratio of 9.58 and a beta of 1.23. The stock’s 50 day moving average is $107.75 and its 200 day moving average is $117.15. Ligand Pharmaceuticals has a one year low of $82.06 and a one year high of $139.79.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The company had revenue of $19.50 million for the quarter, compared to analyst estimates of $18.12 million. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. The business’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company posted $1.81 earnings per share. On average, analysts anticipate that Ligand Pharmaceuticals will post $3.44 EPS for the current year.

In related news, CEO John L. Higgins sold 3,000 shares of Ligand Pharmaceuticals 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 directly owns 122,664 shares in the company, valued at approximately $14,393,393.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John W. Kozarich sold 1,666 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $105.40, for a total value of $175,596.40. Following the transaction, the director now owns 40,783 shares of the company’s stock, valued at $4,298,528.20. The disclosure for this sale can be found here. Corporate insiders own 14.70% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Ligand Pharmaceuticals by 8.0% in the second quarter. Vanguard Group Inc. now owns 1,515,814 shares of the biotechnology company’s stock valued at $180,790,000 after buying an additional 111,807 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of Ligand Pharmaceuticals by 6.5% in the second quarter. BlackRock Fund Advisors now owns 1,466,467 shares of the biotechnology company’s stock valued at $174,906,000 after buying an additional 89,463 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Ligand Pharmaceuticals by 2.1% in the second quarter. William Blair Investment Management LLC now owns 1,255,277 shares of the biotechnology company’s stock valued at $149,717,000 after buying an additional 25,825 shares in the last quarter. FMR LLC increased its position in shares of Ligand Pharmaceuticals by 8.2% in the second quarter. FMR LLC now owns 1,055,463 shares of the biotechnology company’s stock valued at $125,885,000 after buying an additional 80,200 shares in the last quarter. Finally, State Street Corp increased its position in shares of Ligand Pharmaceuticals by 5.3% in the second quarter. State Street Corp now owns 737,003 shares of the biotechnology company’s stock valued at $87,904,000 after buying an additional 37,215 shares in the last quarter.

About Ligand Pharmaceuticals

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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