Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Price Target Raised to $135.00 at Roth Capital
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) had its price objective upped by stock analysts at Roth Capital from $120.00 to $135.00 in a note issued to investors on Tuesday. Roth Capital’s price objective would suggest a potential upside of 10.81% from the stock’s current price.
LGND has been the subject of several other reports. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating in a research report on Monday, May 15th. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Deutsche Bank AG restated a “hold” rating and issued a $103.00 price objective (up from $100.00) on shares of Ligand Pharmaceuticals in a research note on Monday, July 17th. Finally, ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Five equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $132.33.
Ligand Pharmaceuticals (LGND) opened at 121.83 on Tuesday. Ligand Pharmaceuticals has a 52 week low of $87.50 and a 52 week high of $130.06. The stock has a 50 day moving average of $119.76 and a 200-day moving average of $110.74. The stock’s market cap is $2.56 billion.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Monday, August 7th. The biotechnology company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.21. The company had revenue of $28 million during the quarter, compared to the consensus estimate of $24.40 million. Ligand Pharmaceuticals had a negative net margin of 2.91% and a positive return on equity of 2.57%. The company’s revenue for the quarter was up 43.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. Analysts forecast that Ligand Pharmaceuticals will post $2.66 earnings per share for the current year.
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In other news, Director Jason Aryeh sold 37,247 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $110.76, for a total value of $4,125,477.72. Following the completion of the sale, the director now directly owns 58,959 shares in the company, valued at $6,530,298.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John L. Higgins sold 4,666 shares of the business’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $120.00, for a total transaction of $559,920.00. Following the completion of the sale, the chief executive officer now owns 143,837 shares of the company’s stock, valued at $17,260,440. The disclosure for this sale can be found here. Insiders sold 59,534 shares of company stock valued at $6,694,514 over the last 90 days. 14.70% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Willingdon Wealth Management boosted its position in Ligand Pharmaceuticals by 1.4% in the second quarter. Willingdon Wealth Management now owns 14,204 shares of the biotechnology company’s stock valued at $1,724,000 after buying an additional 193 shares during the last quarter. Tygh Capital Management Inc. bought a new position in Ligand Pharmaceuticals during the second quarter valued at approximately $7,181,000. Geneva Advisors LLC boosted its position in Ligand Pharmaceuticals by 2.7% in the second quarter. Geneva Advisors LLC now owns 16,027 shares of the biotechnology company’s stock valued at $1,946,000 after buying an additional 420 shares during the last quarter. HealthInvest Partners AB bought a new position in Ligand Pharmaceuticals during the second quarter valued at approximately $6,823,000. Finally, Pax World Management LLC boosted its position in Ligand Pharmaceuticals by 6.0% in the second quarter. Pax World Management LLC now owns 182,440 shares of the biotechnology company’s stock valued at $22,148,000 after buying an additional 10,339 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 is involved in the development and licensing of biopharmaceutical assets. 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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