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Ligand Pharmaceuticals (NASDAQ:LGND) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued on Friday, Analyst Ratings Network reports. They currently have a $81.20 target price on the stock. Zacks‘ target price indicates a potential upside of 11.11% from the company’s current price.

Ligand Pharmaceuticals (NASDAQ:LGND) traded up 1.15% during mid-day trading on Friday, hitting $73.92. 199,453 shares of the company’s stock traded hands. Ligand Pharmaceuticals has a one year low of $20.21 and a one year high of $80.42. The stock has a 50-day moving average of $62.76 and a 200-day moving average of $52.75. The company has a market cap of $1.511 billion and a P/E ratio of 131.68.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings data on Tuesday, February 11th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.16. The company had revenue of $14.70 million for the quarter, compared to the consensus estimate of $13.72 million. Ligand Pharmaceuticals’s revenue was up 8.1% compared to the same quarter last year. On average, analysts predict that Ligand Pharmaceuticals will post $1.45 earnings per share for the current fiscal year.

In other Ligand Pharmaceuticals news, major shareholder Bvf Partners L. P/Il unloaded 422,900 shares of Ligand Pharmaceuticals stock on the open market in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $73.81, for a total transaction of $31,214,249.00. The sale was disclosed in a filing with the SEC, which is available at this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Other equities research analysts have also recently issued reports about the stock. Analysts at TheStreet upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Separately, analysts at Roth Capital raised their price target on shares of Ligand Pharmaceuticals from $69.00 to $92.00 in a research note on Wednesday, February 12th. They now have a “positive” rating on the stock. Finally, analysts at MLV Capital raised their price target on shares of Ligand Pharmaceuticals to $82.00 in a research note on Monday, February 10th. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $68.89.

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) is a biotechnology company that operates with a business model focused on developing or acquiring assets.

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