Ligand Pharmaceuticals Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:LGND)
Ligand Pharmaceuticals (NASDAQ:LGND) has been given an average rating of “Buy” by the nine analysts that are currently covering the company, AR Network reports. Four research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among brokers that have covered the stock in the last year is $68.64.
A number of analysts have recently weighed in on LGND shares. Analysts at Roth Capital initiated coverage on shares of Ligand Pharmaceuticals in a research note on Wednesday. They set a “buy” rating on the stock. Analysts at Ned Davis Research upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “neutral” rating in a research note on Monday, April 28th.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) traded down 1.24% during mid-day trading on Thursday, hitting $62.1275. 34,015 shares of the company’s stock traded hands. Ligand Pharmaceuticals has a 52-week low of $36.01 and a 52-week high of $80.42. The stock has a 50-day moving average of $65. and a 200-day moving average of $64.54. The company has a market cap of $1.288 billion and a price-to-earnings ratio of 107.91.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings data on Wednesday, May 7th. The company reported $0.35 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.25 by $0.10. The company had revenue of $16.00 million for the quarter, compared to the consensus estimate of $13.63 million. The company’s quarterly revenue was up 36.8% on a year-over-year basis. On average, analysts predict that Ligand Pharmaceuticals will post $1.44 earnings per share for the current fiscal year.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) is a biotechnology company that operates with a business model focused on developing or acquiring assets.