Brokerages Set Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Target Price at $335.75

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) have been assigned an average recommendation of “Buy” from the nine brokerages that are presently covering the firm, Marketbeat.com reports. Nine research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokerages that have covered the stock in the last year is $335.75.

Several equities analysts have commented on the stock. Weiss Ratings raised shares of Ligand Pharmaceuticals from a “hold (c)” rating to a “buy (b-)” rating in a research report on Tuesday, August 11th. Leerink Partners began coverage on Ligand Pharmaceuticals in a research report on Friday, August 14th. They set an “outperform” rating and a $330.00 price target for the company. Stifel Nicolaus lifted their price target on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Citigroup assumed coverage on Ligand Pharmaceuticals in a research report on Tuesday, July 21st. They issued a “buy” rating and a $387.00 price objective on the stock. Finally, HC Wainwright upped their price objective on Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a “buy” rating in a research note on Thursday, August 6th.

Ligand Pharmaceuticals Price Performance

LGND opened at $285.60 on Thursday. Ligand Pharmaceuticals has a 1 year low of $161.82 and a 1 year high of $326.63. The company has a debt-to-equity ratio of 1.16, a current ratio of 31.18 and a quick ratio of 30.96. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 2.29 and a beta of 1.11. The firm’s fifty day moving average price is $297.84 and its two-hundred day moving average price is $248.47.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $2.37 EPS for the quarter, beating the consensus estimate of $1.97 by $0.40. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The company had revenue of $63.69 million during the quarter, compared to the consensus estimate of $61.30 million. During the same quarter in the prior year, the company posted $1.60 earnings per share. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. As a group, analysts anticipate that Ligand Pharmaceuticals will post 5.29 earnings per share for the current fiscal year.

Insider Activity at Ligand Pharmaceuticals

In related news, Director Jason Haas sold 7,138 shares of the stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $292.81, for a total transaction of $2,090,077.78. Following the completion of the transaction, the director owned 3,981 shares in the company, valued at approximately $1,165,676.61. This represents a 64.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jason Aryeh sold 4,500 shares of the firm’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $250.00, for a total transaction of $1,125,000.00. Following the sale, the director owned 102,580 shares of the company’s stock, valued at $25,645,000. This trade represents a 4.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 66,976 shares of company stock worth $18,940,421. 5.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC increased its stake in shares of Ligand Pharmaceuticals by 5.7% during the 2nd quarter. GAMMA Investing LLC now owns 681 shares of the biotechnology company’s stock worth $215,000 after purchasing an additional 37 shares during the last quarter. Cim Investment Management Inc. lifted its stake in Ligand Pharmaceuticals by 3.4% in the first quarter. Cim Investment Management Inc. now owns 1,484 shares of the biotechnology company’s stock valued at $296,000 after purchasing an additional 49 shares during the last quarter. Maryland State Retirement & Pension System lifted its stake in Ligand Pharmaceuticals by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock valued at $543,000 after purchasing an additional 61 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Ligand Pharmaceuticals by 86.3% during the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 69 shares during the period. Finally, BTG Pactual Asset Management US LLC grew its holdings in Ligand Pharmaceuticals by 7.1% during the second quarter. BTG Pactual Asset Management US LLC now owns 1,123 shares of the biotechnology company’s stock valued at $355,000 after purchasing an additional 74 shares during the period. 91.28% of the stock is owned by institutional investors.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.