Somewhat Favorable Press Coverage Somewhat Unlikely to Affect Ligand Pharmaceuticals (LGND) Stock Price
Headlines about Ligand Pharmaceuticals (NASDAQ:LGND) have been trending somewhat positive on Sunday, according to Accern. The research group identifies negative and positive news coverage by analyzing more than twenty million blog and news sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Ligand Pharmaceuticals earned a news impact score of 0.11 on Accern’s scale. Accern also gave news articles about the biotechnology company an impact score of 46.1519546008589 out of 100, meaning that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
Here are some of the news articles that may have effected Accern’s rankings:
- Glaxo’s Shingles Candidate Gets Positive FDA Committee Vote (finance.yahoo.com)
- Pfizer Lung Cancer Drug’s Overall Survival Data Unfavorable (finance.yahoo.com)
- Time to Reconsider Ligand Pharmaceuticals Inc. (LGND) After Reaching 52-Week High? (iphonefresh.com)
- Ligand Pharmaceuticals Incorporated (LGND) Expected to Announce Quarterly Sales of $31.22 Million (americanbankingnews.com)
- Ligand Pharmaceuticals Incorporated (LGND) Given Average Recommendation of “Buy” by Analysts (americanbankingnews.com)
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) opened at 134.70 on Friday. Ligand Pharmaceuticals has a 12 month low of $87.50 and a 12 month high of $138.49. The firm has a market cap of $2.84 billion, a P/E ratio of 328.54 and a beta of 0.99. The stock’s 50 day moving average is $127.95 and its 200 day moving average is $116.09.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.42. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The firm had revenue of $28.00 million for the quarter, compared to analysts’ expectations of $24.40 million. During the same period in the previous year, the firm earned $0.50 earnings per share. The business’s revenue was up 43.6% compared to the same quarter last year. Equities research analysts expect that Ligand Pharmaceuticals will post $2.95 EPS for the current year.
A number of analysts have weighed in on the stock. Stephens reissued an “overweight” rating and set a $137.00 target price (up previously from $125.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 9th. BidaskClub downgraded shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Deutsche Bank AG reissued a “hold” rating and set a $103.00 target price (up previously from $100.00) on shares of Ligand Pharmaceuticals in a research report on Monday, July 17th. ValuEngine raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Roth Capital raised their price objective on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $132.29.
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In related news, VP Charles S. Berkman sold 18,625 shares of the company’s stock in a transaction on Wednesday, August 9th. The stock was sold at an average price of $126.96, for a total value of $2,364,630.00. Following the sale, the vice president now directly owns 24,423 shares of the company’s stock, valued at $3,100,744.08. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO John L. Higgins sold 5,000 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total value of $650,000.00. Following the completion of the sale, the chief executive officer now directly owns 144,171 shares in the company, valued at $18,742,230. The disclosure for this sale can be found here. Insiders have sold 41,874 shares of company stock worth $5,293,716 over the last three months. Insiders own 14.70% of the company’s stock.
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 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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