Ligand Pharmaceuticals (NASDAQ:LGND) received a $169.00 target price from stock analysts at HC Wainwright in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 21.88% from the stock’s previous close.
Several other research analysts have also recently commented on the stock. Deutsche Bank cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price for the company. in a report on Monday, November 20th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 target price for the company in a report on Thursday, October 12th. Craig Hallum reiterated a “buy” rating and issued a $170.00 target price (up from $160.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, November 15th. Finally, Roth Capital restated a “buy” rating and set a $158.00 price target (up from $135.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $150.67.
Shares of Ligand Pharmaceuticals (LGND) traded up $0.26 on Wednesday, hitting $138.66. 113,976 shares of the company’s stock traded hands, compared to its average volume of 243,088. Ligand Pharmaceuticals has a one year low of $95.08 and a one year high of $149.31. The firm has a market capitalization of $2,910.00, a PE ratio of 200.96, a price-to-earnings-growth ratio of 2.08 and a beta of 0.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97.
In related news, Director Stephen L. Sabba sold 925 shares of the firm’s stock in a transaction that occurred on Wednesday, December 20th. The shares were sold at an average price of $137.25, for a total transaction of $126,956.25. Following the completion of the sale, the director now directly owns 26,985 shares in the company, valued at $3,703,691.25. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Matthew E. Korenberg sold 6,559 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $142.63, for a total transaction of $935,510.17. Following the sale, the vice president now owns 8,147 shares of the company’s stock, valued at $1,162,006.61. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,753 shares of company stock valued at $2,522,007. 8.30% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Strs Ohio lifted 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 valued at $157,000 after acquiring an additional 900 shares during the last quarter. Teacher Retirement System of Texas acquired a new stake in Ligand Pharmaceuticals in the second quarter valued at approximately $203,000. Harbor Advisors LLC acquired a new stake in Ligand Pharmaceuticals in the third quarter valued at approximately $204,000. Round Table Services LLC acquired a new stake in Ligand Pharmaceuticals in the third quarter valued at approximately $205,000. Finally, Riverhead Capital Management LLC lifted its stake in Ligand Pharmaceuticals by 99.8% in the second quarter. Riverhead Capital Management LLC now owns 1,798 shares of the biotechnology company’s stock valued at $218,000 after acquiring an additional 898 shares during the last quarter.
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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.
