Ligand Pharmaceuticals Inc. (LGND) Given Average Rating of “Buy” by Brokerages

Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) have been given an average recommendation of “Buy” by the nine analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, four have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $148.00.

A number of research analysts have issued reports on LGND shares. Deutsche Bank downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 target price on the stock. in a research 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 on the stock in a research report on Thursday, October 12th. HC Wainwright set a $169.00 target price on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, December 27th. Craig Hallum restated a “buy” rating and set a $170.00 target price (up from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. Finally, BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th.

Ligand Pharmaceuticals (LGND) opened at $150.00 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.95 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 $170.30. The stock has a market cap of $3,245.18, a PE ratio of 217.39, a price-to-earnings-growth ratio of 1.65 and a beta of 1.07.

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

In related news, CEO John L. Higgins sold 28,099 shares of the stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $153.70, for a total value of $4,318,816.30. Following the sale, the chief executive officer now directly owns 162,299 shares in the company, valued at approximately $24,945,356.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John L. Higgins sold 5,269 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $142.53, for a total transaction of $750,990.57. Following the completion of the sale, the chief executive officer now owns 143,542 shares in the company, valued at $20,459,041.26. The disclosure for this sale can be found here. Insiders sold a total of 70,852 shares of company stock worth $10,915,823 over the last quarter. 8.30% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Pinebridge Investments L.P. grew its stake in shares of Ligand Pharmaceuticals by 194.9% during the 4th quarter. Pinebridge Investments L.P. now owns 7,656 shares of the biotechnology company’s stock worth $1,049,000 after acquiring an additional 5,060 shares in the last quarter. State of Wisconsin Investment Board grew its stake in shares of Ligand Pharmaceuticals by 35.3% during the 4th quarter. State of Wisconsin Investment Board now owns 20,300 shares of the biotechnology company’s stock worth $2,780,000 after acquiring an additional 5,300 shares in the last quarter. Intrust Bank NA grew its stake in shares of Ligand Pharmaceuticals by 15.8% during the 4th quarter. Intrust Bank NA now owns 2,960 shares of the biotechnology company’s stock worth $406,000 after acquiring an additional 404 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Ligand Pharmaceuticals by 5.1% during the 4th quarter. First Trust Advisors LP now owns 12,513 shares of the biotechnology company’s stock worth $1,713,000 after acquiring an additional 609 shares in the last quarter. Finally, Willingdon Wealth Management grew its stake in shares of Ligand Pharmaceuticals by 2.7% during the 4th quarter. Willingdon Wealth Management now owns 15,075 shares of the biotechnology company’s stock worth $2,064,000 after acquiring an additional 395 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.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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