Ligand Pharmaceuticals (NASDAQ: LGND) recently received a number of ratings updates from brokerages and research firms:

  • 8/8/2017 – Ligand Pharmaceuticals had its price target raised by analysts at Roth Capital from $120.00 to $135.00. They now have a “buy” rating on the stock.
  • 8/8/2017 – Ligand Pharmaceuticals had its price target raised by analysts at Deutsche Bank AG from $103.00 to $104.00. They now have a “hold” rating on the stock.
  • 8/7/2017 – Ligand Pharmaceuticals was upgraded by analysts at TheStreet from a “c” rating to a “b-” rating.
  • 8/1/2017 – Ligand Pharmaceuticals was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/19/2017 – Ligand Pharmaceuticals was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/17/2017 – Ligand Pharmaceuticals had its “hold” rating reaffirmed by analysts at Deutsche Bank AG. They now have a $103.00 price target on the stock, up previously from $100.00.
  • 7/11/2017 – Ligand Pharmaceuticals was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Ligand’s Captisol formulation technology has resulted in partnerships with several leading drug companies like Novartis and Amgen that provide it with funds in the form of milestone and royalty payments. However, the company derives a substantial portion of its revenues from royalties associated with the sales of two products – Promacta and Kyprolis. Any setback related to either of these two products could have a substantial impact on the company’s results. Notably, Ligand obtains Captisol from a single supplier. Hence any interruption in the supply of Captisol would have an adverse effect on the company’s results. Shares of Ligand have outperformed the broader industry in the last one year. Estimates have been stable lately ahead of the company’s Q2 earnings release. The company has positive record of earnings surprises in recent quarters.”
  • 6/23/2017 – Ligand Pharmaceuticals was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/22/2017 – Ligand Pharmaceuticals was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.

Ligand Pharmaceuticals Incorporated (NASDAQ LGND) traded down 1.55% during trading on Wednesday, reaching $126.97. 571,468 shares of the company’s stock were exchanged. Ligand Pharmaceuticals Incorporated has a 52 week low of $87.50 and a 52 week high of $128.92. The stock has a 50-day moving average price of $120.33 and a 200 day moving average price of $110.98. The firm’s market capitalization is $2.67 billion.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Monday, August 7th. The biotechnology company reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.42. Ligand Pharmaceuticals had a return on equity of 5.18% and a net margin of 7.39%. The company had revenue of $28 million during the quarter, compared to the consensus estimate of $24.40 million. During the same quarter last year, the company earned $0.50 earnings per share. Ligand Pharmaceuticals’s quarterly revenue was up 43.6% compared to the same quarter last year. Equities research analysts forecast that Ligand Pharmaceuticals Incorporated will post $2.83 earnings per share for the current fiscal year.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 4,666 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $120.00, for a total value of $559,920.00. Following the completion of the sale, the chief executive officer now owns 143,837 shares of the company’s stock, valued at $17,260,440. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO John L. Higgins sold 12,000 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $114.87, for a total value of $1,378,440.00. Following the completion of the sale, the chief executive officer now directly owns 151,171 shares of the company’s stock, valued at approximately $17,365,012.77. The disclosure for this sale can be found here. In the last three months, insiders sold 59,534 shares of company stock valued at $6,694,514. 14.70% of the stock is owned by corporate insiders.

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.

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