Roth Capital set a $154.00 price objective on Ligand Pharmaceuticals Inc. (NASDAQ:LGND) in a research note issued to investors on Monday morning. The firm currently has a buy rating on the biotechnology company’s stock.

A number of other equities analysts have also weighed in on the stock. Deutsche Bank AG lowered shares of Ligand Pharmaceuticals from a hold rating to a sell rating and boosted their price target for the stock from $104.00 to $110.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a hold rating to a strong-buy rating and set a $135.00 price target on the stock in a research report on Tuesday, August 9th. 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. HC Wainwright reaffirmed a buy rating and set a $160.00 target price (up from $146.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 5th. Finally, Craig Hallum lifted their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 in a research note on Wednesday, October 5th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Ligand Pharmaceuticals currently has a consensus rating of Buy and a consensus target price of $139.70.

Ligand Pharmaceuticals (NASDAQ:LGND) opened at 106.88 on Monday. The firm has a 50-day moving average of $98.35 and a 200-day moving average of $112.60. Ligand Pharmaceuticals has a 52 week low of $82.06 and a 52 week high of $139.79. The company has a market capitalization of $2.23 billion, a P/E ratio of 306.25 and a beta of 1.43.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, November 3rd. The biotechnology company reported $0.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.59 by $0.03. Ligand Pharmaceuticals had a net margin of 8.51% and a return on equity of 9.98%. The business had revenue of $21.62 million for the quarter, compared to analyst estimates of $23.64 million. During the same quarter last year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 22.1% compared to the same quarter last year. Analysts anticipate that Ligand Pharmaceuticals will post $3.40 EPS for the current fiscal year.

In related news, Director John W. Kozarich sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $115.00, for a total transaction of $115,000.00. Following the sale, the director now directly owns 39,983 shares of the company’s stock, valued at approximately $4,598,045. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John W. Kozarich sold 1,666 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $105.40, for a total transaction of $175,596.40. Following the sale, the director now directly owns 40,783 shares in the company, valued at $4,298,528.20. The disclosure for this sale can be found here. 14.70% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in the company. BlackRock Fund Advisors increased its stake in shares of Ligand Pharmaceuticals by 8.1% in the third quarter. BlackRock Fund Advisors now owns 1,584,794 shares of the biotechnology company’s stock valued at $161,744,000 after buying an additional 118,327 shares during the last quarter. Vanguard Group Inc. increased its stake 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 during the last quarter. William Blair Investment Management LLC increased its stake 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 during the last quarter. FMR LLC increased its stake 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 during the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of Ligand Pharmaceuticals by 168,987.6% in the third quarter. Victory Capital Management Inc. now owns 940,127 shares of the biotechnology company’s stock valued at $95,949,000 after buying an additional 939,571 shares during 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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