Ligand Pharmaceuticals Inc. (NASDAQ:LGND)‘s stock had its “buy” rating reissued by research analysts at Roth Capital in a research report issued on Tuesday. They presently have a $151.00 price target 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 research firms have also recently weighed in on LGND. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. Vetr upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price target on the stock in a report on Wednesday, August 10th. Finally, Deutsche Bank AG upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and cut their price target for the stock from $110.00 to $105.00 in a report on Wednesday, September 7th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $136.47.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

Shares of Ligand Pharmaceuticals (NASDAQ:LGND) traded up 1.492% on Tuesday, hitting $117.325. 133,756 shares of the stock traded hands. Ligand Pharmaceuticals has a 52 week low of $79.66 and a 52 week high of $139.79. The stock has a 50 day moving average price of $113.29 and a 200-day moving average price of $116.51. The stock has a market cap of $2.45 billion, a price-to-earnings ratio of 11.063 and a beta of 1.27.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/20/ligand-pharmaceuticals-inc-lgnd-stock-rating-reaffirmed-by-roth-capital-2.html

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.10. The firm earned $19.50 million during the quarter, compared to analysts’ expectations of $18.12 million. Ligand Pharmaceuticals had a net margin of 263.14% and a return on equity of 11.64%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $1.81 earnings per share. On average, equities research analysts forecast that Ligand Pharmaceuticals will post $3.45 EPS for the current year.

In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 1,666 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $105.40, for a total value of $175,596.40. Following the transaction, the director now directly owns 40,783 shares in the company, valued at $4,298,528.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John W. Kozarich sold 1,000 shares of the business’s stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $137.57, for a total transaction of $137,570.00. Following the completion of the transaction, the director now owns 41,783 shares in the company, valued at $5,748,087.31. The disclosure for this sale can be found here. 14.70% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Meridian Investment Counsel Inc. boosted its position in Ligand Pharmaceuticals by 1.0% in the second quarter. Meridian Investment Counsel Inc. now owns 2,920 shares of the biotechnology company’s stock worth $348,000 after buying an additional 30 shares during the last quarter. Hanseatic Management Services Inc. boosted its position in Ligand Pharmaceuticals by 0.8% in the second quarter. Hanseatic Management Services Inc. now owns 7,819 shares of the biotechnology company’s stock worth $933,000 after buying an additional 60 shares during the last quarter. Paradigm Asset Management Co. LLC boosted its position in Ligand Pharmaceuticals by 1.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,753 shares of the biotechnology company’s stock worth $686,000 after buying an additional 100 shares during the last quarter. Howe & Rusling Inc. boosted its position in Ligand Pharmaceuticals by 8.3% in the second quarter. Howe & Rusling Inc. now owns 1,375 shares of the biotechnology company’s stock worth $164,000 after buying an additional 105 shares during the last quarter. Finally, Suntrust Banks Inc. boosted its position in Ligand Pharmaceuticals by 2.6% in the second quarter. Suntrust Banks Inc. now owns 5,441 shares of the biotechnology company’s stock worth $648,000 after buying an additional 136 shares during the last quarter.

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.

5 Day Chart for NASDAQ:LGND

Receive News & Ratings for Ligand Pharmaceuticals Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals Inc. and related companies with MarketBeat.com's FREE daily email newsletter.