Ligand Pharmaceuticals Incorporated (LGND) Given Consensus Recommendation of “Buy” by Analysts
Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) have been assigned an average recommendation of “Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $136.83.
LGND has been the subject of a number of research reports. TheStreet raised shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Roth Capital boosted their price target on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. BidaskClub cut shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. 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 report on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th.
Ligand Pharmaceuticals (NASDAQ LGND) opened at 126.62 on Friday. The stock’s 50 day moving average is $122.04 and its 200 day moving average is $112.50. Ligand Pharmaceuticals has a 1-year low of $87.50 and a 1-year high of $129.94. The company has a market cap of $2.67 billion, a P/E ratio of 308.83 and a beta of 0.96.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 EPS for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.42. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The business had revenue of $28 million during the quarter, compared to analysts’ expectations of $24.40 million. During the same quarter in the previous year, the company earned $0.50 EPS. The business’s quarterly revenue was up 43.6% compared to the same quarter last year. Equities analysts anticipate that Ligand Pharmaceuticals will post $2.95 earnings per share for the current fiscal year.
In other news, VP Charles S. Berkman sold 18,625 shares of the business’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $126.96, for a total value of $2,364,630.00. Following the completion of the sale, the vice president now directly owns 24,423 shares in the company, valued at approximately $3,100,744.08. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John L. Higgins sold 4,666 shares of the business’s stock in a transaction that occurred 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. Over the last 90 days, insiders sold 46,874 shares of company stock valued at $5,766,176. Company insiders own 14.70% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Tyers Asset Management LLC raised its stake in Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock worth $110,000 after buying an additional 196 shares in the last quarter. LS Investment Advisors LLC raised its stake in Ligand Pharmaceuticals by 43.2% in the first quarter. LS Investment Advisors LLC now owns 1,197 shares of the biotechnology company’s stock worth $127,000 after buying an additional 361 shares in the last quarter. Flinton Capital Management LLC raised its stake in Ligand Pharmaceuticals by 23.3% in the first quarter. Flinton Capital Management LLC now owns 1,258 shares of the biotechnology company’s stock worth $133,000 after buying an additional 238 shares in the last quarter. Strs Ohio raised its stake in Ligand Pharmaceuticals by 225.0% in the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock worth $157,000 after buying an additional 900 shares in the last quarter. Finally, First Mercantile Trust Co. raised its stake in Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after buying an additional 20 shares in the last quarter.
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About Ligand Pharmaceuticals
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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