Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) received a $158.00 price objective from investment analysts at Roth Capital in a research note issued on Monday. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Roth Capital’s price objective suggests a potential upside of 8.91% from the company’s previous close.

Several other research firms also recently commented on LGND. HC Wainwright reissued a “buy” rating and issued a $157.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday, November 6th. Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 price target for the company in a report on Thursday, October 12th. TheStreet upgraded Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research report on Monday, August 7th. ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, August 10th. Finally, Stephens restated an “overweight” rating and issued a $137.00 price target (up previously from $125.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 9th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $144.20.

Ligand Pharmaceuticals (LGND) opened at $145.07 on Monday. Ligand Pharmaceuticals has a 12-month low of $95.08 and a 12-month high of $149.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97. The firm has a market capitalization of $3,013.86, a P/E ratio of 107.37, a price-to-earnings-growth ratio of 2.21 and a beta of 0.94.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The firm had revenue of $33.38 million during the quarter, compared to the consensus estimate of $31.04 million. During the same quarter in the prior year, the firm posted $0.62 EPS. The business’s revenue was up 54.4% on a year-over-year basis. sell-side analysts expect that Ligand Pharmaceuticals will post 2.35 earnings per share for the current year.

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In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 5,000 shares of the business’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 transaction, the chief executive officer now owns 144,171 shares of the company’s stock, valued at $18,742,230. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jason Aryeh sold 2,000 shares of the company’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $127.99, for a total value of $255,980.00. Following the transaction, the director now directly owns 59,625 shares in the company, valued at approximately $7,631,403.75. The disclosure for this sale can be found here. Insiders own 14.70% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC bought a new position in Ligand Pharmaceuticals in the 2nd quarter worth about $72,293,000. Russell Investments Group Ltd. increased its position in shares of Ligand Pharmaceuticals by 38.2% during the 2nd quarter. Russell Investments Group Ltd. now owns 372,465 shares of the biotechnology company’s stock valued at $45,217,000 after purchasing an additional 102,892 shares during the last quarter. Stifel Financial Corp increased its position in shares of Ligand Pharmaceuticals by 1,447.2% during the 3rd quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock valued at $14,839,000 after purchasing an additional 102,071 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in Ligand Pharmaceuticals during the 1st quarter valued at about $10,702,000. Finally, Macquarie Group Ltd. boosted its holdings in Ligand Pharmaceuticals by 27.3% during the 2nd quarter. Macquarie Group Ltd. now owns 471,058 shares of the biotechnology company’s stock valued at $57,186,000 after acquiring an additional 101,073 shares during the period.

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.

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