Ligand Pharmaceuticals (LGND) Price Target Raised to $182.00
Ligand Pharmaceuticals (NASDAQ:LGND) had its price target raised by HC Wainwright from $170.00 to $182.00 in a research note released on Wednesday morning, Marketbeat reports. They currently have a buy rating on the biotechnology company’s stock.
Several other equities research analysts also recently weighed in on the stock. Deutsche Bank downgraded shares of Ligand Pharmaceuticals from a hold rating to a sell rating and set a $105.00 price objective for the company. in a report on Monday, November 20th. Craig Hallum reaffirmed a buy rating and issued a $170.00 price objective (up previously from $160.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, November 15th. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday, January 2nd. BidaskClub raised shares of Ligand Pharmaceuticals from a buy rating to a strong-buy rating in a report on Friday, January 5th. Finally, Roth Capital set a $158.00 price objective on shares of Ligand Pharmaceuticals and gave the stock a buy rating in a report on Monday, November 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $161.00.
Shares of Ligand Pharmaceuticals (LGND) traded up $1.34 on Wednesday, hitting $176.04. 349,837 shares of the stock traded hands, compared to its average volume of 321,750. The firm has a market capitalization of $3,720.00, a P/E ratio of 345.18, a price-to-earnings-growth ratio of 1.78 and a beta of 1.10. Ligand Pharmaceuticals has a 52 week low of $102.56 and a 52 week high of $177.78. The company has a current ratio of 0.99, a quick ratio of 0.97 and a debt-to-equity ratio of 0.05.
In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 3,417 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $155.00, for a total value of $529,635.00. Following the completion of the sale, the director now directly owns 58,625 shares of the company’s stock, valued at approximately $9,086,875. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Kozarich sold 2,500 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $145.00, for a total transaction of $362,500.00. Following the completion of the sale, the director now directly owns 33,149 shares of the company’s stock, valued at $4,806,605. The disclosure for this sale can be found here. Insiders sold a total of 99,890 shares of company stock valued at $15,767,270 over the last three months. 8.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of LGND. Carillon Tower Advisers Inc. acquired a new stake in Ligand Pharmaceuticals in the 4th quarter valued at about $30,730,000. Janus Henderson Group PLC lifted its holdings in Ligand Pharmaceuticals by 26.7% in the 3rd quarter. Janus Henderson Group PLC now owns 754,692 shares of the biotechnology company’s stock valued at $102,751,000 after acquiring an additional 159,201 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Ligand Pharmaceuticals by 74.0% in the 4th quarter. OppenheimerFunds Inc. now owns 252,961 shares of the biotechnology company’s stock valued at $34,638,000 after acquiring an additional 107,580 shares during the last quarter. Stifel Financial Corp raised its holdings in Ligand Pharmaceuticals by 1,447.2% during the 3rd quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock worth $14,839,000 after buying an additional 102,071 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in Ligand Pharmaceuticals by 8.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,240,071 shares of the biotechnology company’s stock worth $169,803,000 after buying an additional 92,695 shares during the period.
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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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