Ligand Pharmaceuticals (NASDAQ:LGND) Lowered to Hold Rating by Wall Street Zen

Ligand Pharmaceuticals (NASDAQ:LGND) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

LGND has been the topic of several other research reports. HC Wainwright upped their target price on Ligand Pharmaceuticals from $231.00 to $239.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Benchmark raised their target price on Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Citigroup started coverage on Ligand Pharmaceuticals in a report on Tuesday, December 9th. They issued a “buy” rating and a $270.00 target price for the company. Royal Bank Of Canada boosted their price target on Ligand Pharmaceuticals from $234.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Finally, Stifel Nicolaus increased their price target on Ligand Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.17.

Ligand Pharmaceuticals Trading Down 2.1%

NASDAQ:LGND opened at $201.90 on Friday. Ligand Pharmaceuticals has a 52 week low of $93.58 and a 52 week high of $212.49. The company has a debt-to-equity ratio of 0.44, a quick ratio of 21.98 and a current ratio of 22.23. The firm’s fifty day moving average is $194.23 and its 200-day moving average is $187.15. The firm has a market cap of $4.03 billion, a P/E ratio of 34.63 and a beta of 1.17.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, February 26th. The biotechnology company reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.56. Ligand Pharmaceuticals had a net margin of 46.42% and a return on equity of 13.86%. The business had revenue of $59.67 million for the quarter, compared to analysts’ expectations of $55.59 million. During the same quarter in the prior year, the firm posted $1.27 earnings per share. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. Equities analysts expect that Ligand Pharmaceuticals will post 1.73 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen L. Sabba sold 2,034 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $201.50, for a total value of $409,851.00. Following the completion of the sale, the director directly owned 33,793 shares of the company’s stock, valued at approximately $6,809,289.50. This represents a 5.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Octavio Espinoza sold 13,423 shares of the firm’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $205.83, for a total value of $2,762,856.09. Following the transaction, the chief financial officer owned 21,662 shares in the company, valued at approximately $4,458,689.46. This trade represents a 38.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 23,662 shares of company stock valued at $4,817,826. 7.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC increased its stake in Ligand Pharmaceuticals by 2.9% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,014 shares of the biotechnology company’s stock valued at $357,000 after buying an additional 56 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Ligand Pharmaceuticals by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock worth $543,000 after buying an additional 61 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Ligand Pharmaceuticals by 12.3% in the 3rd quarter. GAMMA Investing LLC now owns 575 shares of the biotechnology company’s stock worth $102,000 after buying an additional 63 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Ligand Pharmaceuticals by 31.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock worth $47,000 after buying an additional 65 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in shares of 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 in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Company Profile

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.