Ligand Pharmaceuticals (NASDAQ:LGND) has been assigned a $169.00 price objective by HC Wainwright in a report issued on Friday. The firm presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective would suggest a potential upside of 13.50% from the company’s previous close.
A number of other research firms have also recently commented on LGND. Zacks Investment Research cut Ligand Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Deutsche Bank cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a research note on Monday, November 20th. Roth Capital reaffirmed a “buy” rating and set a $158.00 target price (up previously from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $170.00 target price (up previously from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $150.67.
Shares of Ligand Pharmaceuticals (LGND) traded up $0.95 during midday trading on Friday, reaching $148.90. The company’s stock had a trading volume of 166,403 shares, compared to its average volume of 173,123. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals has a 52 week low of $95.08 and a 52 week high of $149.31. The company has a market capitalization of $3,122.56, a PE ratio of 215.80, a P/E/G ratio of 1.58 and a beta of 0.91.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The company had revenue of $33.38 million for the quarter, compared to analysts’ expectations of $31.04 million. During the same period in the previous year, the firm posted $0.62 earnings per share. The firm’s revenue for the quarter was up 54.4% on a year-over-year basis. equities analysts predict that Ligand Pharmaceuticals will post 3.15 EPS for the current year.
In related news, Director John W. Kozarich sold 2,500 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $145.00, for a total value of $362,500.00. Following the transaction, the director now owns 33,149 shares of the company’s stock, valued at $4,806,605. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen L. Sabba sold 925 shares of the stock in a transaction that occurred on Wednesday, December 20th. The stock was sold at an average price of $137.25, for a total value of $126,956.25. Following the completion of the transaction, the director now directly owns 26,985 shares in the company, valued at approximately $3,703,691.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,253 shares of company stock worth $2,884,507. Insiders own 8.30% of the company’s stock.
A number of large investors have recently made changes to their positions in LGND. Schwab Charles Investment Management Inc. grew its stake in Ligand Pharmaceuticals by 7.5% in the second quarter. Schwab Charles Investment Management Inc. now owns 110,721 shares of the biotechnology company’s stock worth $13,442,000 after purchasing an additional 7,762 shares in the last quarter. First Trust Advisors LP bought a new position in Ligand Pharmaceuticals in the second quarter worth approximately $524,000. Swiss National Bank grew its stake in Ligand Pharmaceuticals by 7.1% in the second quarter. Swiss National Bank now owns 34,900 shares of the biotechnology company’s stock worth $4,237,000 after purchasing an additional 2,300 shares in the last quarter. Alliancebernstein L.P. grew its stake in Ligand Pharmaceuticals by 19.9% in the second quarter. Alliancebernstein L.P. now owns 46,059 shares of the biotechnology company’s stock worth $5,592,000 after purchasing an additional 7,660 shares in the last quarter. Finally, Riverhead Capital Management LLC grew 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 worth $218,000 after purchasing an additional 898 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.