Ligand Pharmaceuticals Price Target Increased to $91.00 by Analysts at Summer Street (LGND)
Summer Street hoisted their price target on shares of Ligand Pharmaceuticals (NASDAQ:LGND) from $78.00 to $91.00 in a research note issued on Monday, American Banking & Market News reports. The firm currently has a “buy” rating on the stock. Summer Street’s price target indicates a potential upside of 22.26% from the stock’s previous close.
In other Ligand Pharmaceuticals news, major shareholder Bvf Partners P/Il sold 422,900 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $73.81, for a total value of $31,214,249.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) opened at 75.00 on Monday. 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 $63.4 and a 200-day moving average of $52.95. The company has a market cap of $1.533 billion and a P/E ratio of 134.11.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Tuesday, February 11th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters 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. The company’s quarterly revenue was up 8.1% on a year-over-year basis. Analysts expect that Ligand Pharmaceuticals will post $1.46 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on LGND. Analysts at Zacks downgraded shares of Ligand Pharmaceuticals from an “outperform” rating to a “neutral” rating in a research note on Friday. They now have a $81.20 price target on the stock. Separately, analysts at TheStreet upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday, February 13th. Finally, 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Ligand Pharmaceuticals has an average rating of “Buy” and a consensus target price of $70.74.
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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