Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $131.00 Average PT from Brokerages

by · The Markets Daily

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Free Report) have been given a consensus rating of “Buy” by the five ratings firms that are presently covering the firm, Marketbeat reports. Five investment analysts have rated the stock with a buy rating. The average 1 year target price among brokerages that have covered the stock in the last year is $131.80.

A number of equities analysts have commented on the company. Oppenheimer started coverage on Ligand Pharmaceuticals in a research note on Thursday, October 3rd. They set an “outperform” rating and a $135.00 price objective on the stock. HC Wainwright restated a “buy” rating and issued a $144.00 price target on shares of Ligand Pharmaceuticals in a research report on Thursday, August 8th. Craig Hallum upped their price objective on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 target price on shares of Ligand Pharmaceuticals in a report on Wednesday, August 7th. Finally, Benchmark upped their price target on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 12th.

Get Our Latest Research Report on Ligand Pharmaceuticals

Insiders Place Their Bets

In related news, CEO Todd C. Davis purchased 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average cost of $97.39 per share, with a total value of $243,475.00. Following the acquisition, the chief executive officer now owns 123,010 shares of the company’s stock, valued at $11,979,943.90. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 18,245 shares of the company’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $98.50, for a total value of $1,797,132.50. Following the completion of the transaction, the chief operating officer now owns 68,368 shares of the company’s stock, valued at $6,734,248. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Todd C. Davis bought 2,500 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $97.39 per share, with a total value of $243,475.00. Following the completion of the transaction, the chief executive officer now directly owns 123,010 shares of the company’s stock, valued at approximately $11,979,943.90. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 51,613 shares of company stock valued at $5,255,692. 5.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in LGND. Innealta Capital LLC acquired a new stake in shares of Ligand Pharmaceuticals in the second quarter valued at about $31,000. Rothschild Investment LLC bought a new position in Ligand Pharmaceuticals during the 2nd quarter worth approximately $34,000. Headlands Technologies LLC lifted its position in shares of Ligand Pharmaceuticals by 21.7% in the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 135 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $67,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Ligand Pharmaceuticals in the 4th quarter valued at $107,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Performance

Shares of Ligand Pharmaceuticals stock opened at $103.24 on Thursday. The firm has a 50-day moving average of $102.27 and a 200-day moving average of $90.10. Ligand Pharmaceuticals has a 52-week low of $49.24 and a 52-week high of $112.13. The stock has a market cap of $1.86 billion, a PE ratio of 19.97 and a beta of 1.00.

Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.34. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. The firm had revenue of $41.50 million during the quarter, compared to the consensus estimate of $33.04 million. During the same quarter in the previous year, the firm posted $1.10 EPS. The business’s revenue for the quarter was up 57.2% compared to the same quarter last year. Equities research analysts predict that Ligand Pharmaceuticals will post 3.54 earnings per share for the current fiscal year.

Ligand Pharmaceuticals Company Profile

(Get Free Report

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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