BidaskClub cut shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) from a strong-buy rating to a buy rating in a research note released on Wednesday, July 19th.

A number of other research firms have also weighed in on LGND. Zacks Investment Research raised Ligand Pharmaceuticals from a strong sell rating to a hold rating in a research note on Monday, May 1st. Roth Capital set a $120.00 price objective on Ligand Pharmaceuticals and gave the stock a buy rating in a research note on Monday, May 22nd. ValuEngine raised Ligand Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, June 22nd. Finally, Deutsche Bank AG reiterated a hold rating and issued a $103.00 price objective (up previously from $100.00) on shares of Ligand Pharmaceuticals in a report on Monday, July 17th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. Ligand Pharmaceuticals has a consensus rating of Buy and an average price target of $133.04.

Shares of Ligand Pharmaceuticals (NASDAQ LGND) opened at 126.97 on Wednesday. The company’s market cap is $2.67 billion. Ligand Pharmaceuticals has a 1-year low of $87.50 and a 1-year high of $129.94. The company has a 50 day moving average of $121.23 and a 200 day moving average of $111.56.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.42. The company had revenue of $28 million during the quarter, compared to analysts’ expectations of $24.40 million. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. Ligand Pharmaceuticals’s quarterly revenue was up 43.6% on a year-over-year basis. During the same period last year, the business earned $0.50 earnings per share. Equities analysts expect that Ligand Pharmaceuticals will post $2.95 earnings per share for the current fiscal year.

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In other news, insider Matthew W. Foehr sold 5,621 shares of the stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $112.20, for a total value of $630,676.20. Following the transaction, the insider now owns 98,341 shares in the company, valued at approximately $11,033,860.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John L. Higgins sold 4,666 shares of the stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $120.00, for a total value of $559,920.00. Following the completion of the transaction, the chief executive officer now owns 143,837 shares in the company, valued at approximately $17,260,440. The disclosure for this sale can be found here. In the last quarter, insiders sold 59,534 shares of company stock worth $6,694,514. Company insiders own 14.70% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Ligand Pharmaceuticals by 166,566.2% in the first quarter. BlackRock Inc. now owns 2,614,993 shares of the biotechnology company’s stock worth $276,770,000 after buying an additional 2,613,424 shares during the last quarter. William Blair Investment Management LLC boosted its stake in Ligand Pharmaceuticals by 2.6% in the second quarter. William Blair Investment Management LLC now owns 1,773,434 shares of the biotechnology company’s stock worth $215,295,000 after buying an additional 45,256 shares during the last quarter. Vanguard Group Inc. boosted its stake in Ligand Pharmaceuticals by 4.6% in the first quarter. Vanguard Group Inc. now owns 1,687,618 shares of the biotechnology company’s stock worth $178,618,000 after buying an additional 74,193 shares during the last quarter. Eagle Asset Management Inc. boosted its stake in Ligand Pharmaceuticals by 7.7% in the second quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock worth $59,588,000 after buying an additional 35,289 shares during the last quarter. Finally, Stephens Investment Management Group LLC boosted its stake in Ligand Pharmaceuticals by 8.0% in the first quarter. Stephens Investment Management Group LLC now owns 448,479 shares of the biotechnology company’s stock worth $47,467,000 after buying an additional 33,144 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 is involved in the development and licensing of biopharmaceutical assets. 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.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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