Ligand Pharmaceuticals Inc. (LGND) Earns Buy Rating from Roth Capital
Ligand Pharmaceuticals Inc. (NASDAQ:LGND)‘s stock had its “buy” rating restated by Roth Capital in a note issued to investors on Tuesday. They presently have a $151.00 price objective on the biotechnology company’s stock. Roth Capital’s target price would indicate a potential upside of 30.62% from the company’s previous close.
Several other equities analysts also recently issued reports on LGND. Deutsche Bank AG upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and reduced their price objective for the stock from $110.00 to $105.00 in a research report on Wednesday, September 7th. They noted that the move was a valuation call. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Finally, Vetr upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price objective for the company in a research report on Wednesday, August 10th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $136.47.
Ligand Pharmaceuticals (NASDAQ:LGND) traded up 1.57% during trading on Tuesday, reaching $117.41. The company’s stock had a trading volume of 135,643 shares. The firm has a 50-day moving average price of $113.29 and a 200-day moving average price of $116.51. Ligand Pharmaceuticals has a 52 week low of $79.66 and a 52 week high of $139.79. The firm has a market capitalization of $2.45 billion, a P/E ratio of 11.07 and a beta of 1.27.
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Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, August 4th. The biotechnology company reported $0.50 EPS for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. The company earned $19.50 million during the quarter, compared to the consensus estimate of $18.12 million. During the same period in the previous year, the firm posted $1.81 earnings per share. Ligand Pharmaceuticals’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, equities analysts anticipate that Ligand Pharmaceuticals will post $3.45 EPS for the current fiscal year.
In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of the sale, the director now directly owns 39,983 shares in the company, valued at $4,598,045. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Kozarich sold 1,666 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The stock was sold at an average price of $105.40, for a total value of $175,596.40. Following the completion of the sale, the director now owns 40,783 shares of the company’s stock, valued at $4,298,528.20. The disclosure for this sale can be found here. 14.70% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of LGND. 1832 Asset Management L.P. bought a new position in Ligand Pharmaceuticals during the first quarter valued at about $80,340,000. Emerald Acquisition Ltd. bought a new position in Ligand Pharmaceuticals during the second quarter valued at about $44,004,000. Mesirow Financial Investment Management Equity Management bought a new position in Ligand Pharmaceuticals during the second quarter valued at about $20,912,000. Atlantic Trust Group LLC bought a new position in Ligand Pharmaceuticals during the second quarter valued at about $20,024,000. Finally, Norges Bank bought a new position in Ligand Pharmaceuticals during the fourth quarter valued at about $16,715,000.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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