Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $239.3333.

Several brokerages recently commented on LGND. Stifel Nicolaus boosted their price target on shares of Ligand Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Citigroup began coverage on shares of Ligand Pharmaceuticals in a research report on Tuesday, December 9th. They set a “buy” rating and a $270.00 price target for the company. Benchmark lifted their price objective on Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Oppenheimer increased their target price on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ligand Pharmaceuticals in a research note on Monday, December 29th.

Ligand Pharmaceuticals Stock Performance

Shares of NASDAQ LGND opened at $183.83 on Friday. The company has a market capitalization of $3.62 billion, a PE ratio of 88.81 and a beta of 1.14. The company has a debt-to-equity ratio of 0.47, a quick ratio of 24.30 and a current ratio of 24.69. The company’s fifty day moving average price is $193.78 and its 200 day moving average price is $182.23. Ligand Pharmaceuticals has a 1 year low of $93.58 and a 1 year high of $212.49.

Insider Buying and Selling

In other news, Director John W. Kozarich sold 467 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $195.91, for a total value of $91,489.97. Following the completion of the sale, the director owned 43,187 shares of the company’s stock, valued at $8,460,765.17. This represents a 1.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Octavio Espinoza sold 1,804 shares of the firm’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $188.31, for a total value of $339,711.24. Following the sale, the chief financial officer directly owned 26,186 shares of the company’s stock, valued at approximately $4,931,085.66. This trade represents a 6.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 3,205 shares of company stock valued at $611,192 over the last 90 days. Company insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Salomon & Ludwin LLC acquired a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at $26,000. CIBC Private Wealth Group LLC lifted its position in Ligand Pharmaceuticals by 86.3% in the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in Ligand Pharmaceuticals in the fourth quarter valued at $31,000. Richardson Financial Services Inc. grew its holdings in shares of Ligand Pharmaceuticals by 85.8% during the third quarter. Richardson Financial Services Inc. now owns 210 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 97 shares during the last quarter. Finally, USA Financial Formulas purchased a new stake in shares of Ligand Pharmaceuticals in the 4th quarter valued at about $43,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.