Ligand Pharmaceuticals (NASDAQ:LGND) had its price target boosted by Craig Hallum from $230.00 to $260.00 in a research report report published on Tuesday morning, The Fly reports. They currently have a buy rating on the biotechnology company’s stock.

Several other equities analysts have also recently weighed in on LGND. BidaskClub upgraded Ligand Pharmaceuticals from a buy rating to a strong-buy rating in a report on Thursday, June 28th. HC Wainwright set a $249.00 price objective on Ligand Pharmaceuticals and gave the company a buy rating in a report on Friday, July 27th. Zacks Investment Research cut Ligand Pharmaceuticals from a buy rating to a hold rating in a report on Wednesday, June 6th. TheStreet upgraded Ligand Pharmaceuticals from a c+ rating to an a- rating in a report on Wednesday, May 9th. Finally, ValuEngine upgraded Ligand Pharmaceuticals from a hold rating to a buy rating in a report on Wednesday, May 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Ligand Pharmaceuticals presently has a consensus rating of Buy and an average target price of $200.67.

Shares of Ligand Pharmaceuticals stock traded down $4.93 during trading on Tuesday, hitting $242.09. 4,958 shares of the company were exchanged, compared to its average volume of 260,533. The firm has a market capitalization of $4.79 billion, a P/E ratio of 95.89, a PEG ratio of 2.08 and a beta of 0.91. Ligand Pharmaceuticals has a 1-year low of $122.46 and a 1-year high of $254.24. The company has a current ratio of 1.41, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Monday, August 6th. The biotechnology company reported $2.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.25. Ligand Pharmaceuticals had a return on equity of 19.10% and a net margin of 31.40%. The business had revenue of $90.00 million for the quarter, compared to analysts’ expectations of $82.20 million. During the same quarter in the previous year, the business posted $0.67 EPS. Ligand Pharmaceuticals’s revenue for the quarter was up 221.4% on a year-over-year basis. research analysts anticipate that Ligand Pharmaceuticals will post 4.33 EPS for the current fiscal year.

In other Ligand Pharmaceuticals news, insider Matthew W. Foehr sold 8,881 shares of the business’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $167.63, for a total value of $1,488,722.03. Following the sale, the insider now owns 110,082 shares in the company, valued at approximately $18,453,045.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Kozarich sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $207.48, for a total value of $518,700.00. Following the completion of the sale, the director now owns 28,642 shares in the company, valued at approximately $5,942,642.16. The disclosure for this sale can be found here. Insiders have sold a total of 27,786 shares of company stock worth $5,017,990 in the last quarter. 7.80% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LGND. Summit Trail Advisors LLC lifted its stake in Ligand Pharmaceuticals by 14,496.1% in the 1st quarter. Summit Trail Advisors LLC now owns 1,948,730 shares of the biotechnology company’s stock valued at $1,949,000 after acquiring an additional 1,935,379 shares in the last quarter. UBS Group AG lifted its stake in Ligand Pharmaceuticals by 465.7% in the 1st quarter. UBS Group AG now owns 62,154 shares of the biotechnology company’s stock valued at $10,265,000 after acquiring an additional 51,166 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Ligand Pharmaceuticals in the 4th quarter valued at approximately $6,764,000. Matarin Capital Management LLC bought a new stake in Ligand Pharmaceuticals in the 1st quarter valued at approximately $7,714,000. Finally, Penserra Capital Management LLC bought a new stake in Ligand Pharmaceuticals in the 1st quarter valued at approximately $7,077,000.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

See Also: Understanding Price to Earnings Ratio (PE)

The Fly

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.