Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has earned an average rating of “Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $147.80.

Several equities research analysts have commented on the company. HC Wainwright set a $169.00 price target on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Friday. Craig Hallum restated a “buy” rating and set a $170.00 price target (up from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. Roth Capital restated a “buy” rating and set a $158.00 price target (up from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 price target for the company in a research note on Thursday, October 12th. Finally, BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, January 5th.

In other news, Director Stephen L. Sabba sold 925 shares of the company’s stock in a transaction dated 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 sale, the director now owns 26,985 shares of the company’s stock, valued at $3,703,691.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John L. Higgins sold 5,269 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $142.53, for a total value of $750,990.57. Following the completion of the sale, the chief executive officer now directly owns 143,542 shares of the company’s stock, valued at approximately $20,459,041.26. The disclosure for this sale can be found here. Insiders have sold 20,253 shares of company stock valued at $2,884,507 over the last 90 days. 8.30% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LGND. Schwab Charles Investment Management Inc. boosted its position in shares of 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 buying an additional 7,762 shares during the period. First Trust Advisors LP purchased a new stake in shares of Ligand Pharmaceuticals in the second quarter worth about $524,000. Swiss National Bank boosted its position in shares of 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 buying an additional 2,300 shares during the period. Alliancebernstein L.P. boosted its position in shares of 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 buying an additional 7,660 shares during the period. Finally, Riverhead Capital Management LLC boosted its position in shares of 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 buying an additional 898 shares during the period.

Ligand Pharmaceuticals (NASDAQ:LGND) opened at $148.90 on Monday. The company has a market capitalization of $3,142.61, a price-to-earnings ratio of 215.80, a P/E/G ratio of 1.59 and a beta of 0.91. Ligand Pharmaceuticals has a 12 month low of $95.08 and a 12 month high of $149.31. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.32. The firm had revenue of $33.38 million during the quarter, compared to analyst estimates of $31.04 million. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The business’s quarterly revenue was up 54.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. equities analysts predict that Ligand Pharmaceuticals will post 3.15 EPS for the current fiscal year.

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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.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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