Several other analysts also recently commented on LGND. Zacks Investment Research downgraded Ligand Pharmaceuticals from a strong-buy rating to a hold rating in a research note on Tuesday, October 10th. Roth Capital reissued a buy rating and issued a $158.00 price objective (up from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. Craig Hallum reissued a buy rating and issued a $170.00 price objective (up from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, November 15th. Deutsche Bank downgraded Ligand Pharmaceuticals from a hold rating to a sell rating and set a $105.00 price objective for the company. in a research note on Monday, November 20th. Finally, BidaskClub raised Ligand Pharmaceuticals from a buy rating to a strong-buy rating in a research note on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ligand Pharmaceuticals presently has an average rating of Buy and a consensus target price of $150.67.
Shares of Ligand Pharmaceuticals (NASDAQ LGND) traded up $0.95 during trading on Friday, hitting $148.90. The stock had a trading volume of 166,400 shares, compared to its average volume of 214,311. The stock has a market capitalization of $3,142.61, a P/E ratio of 215.80, a PEG 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 current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.05.
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 transaction of $362,500.00. Following the completion of the sale, the director now directly owns 33,149 shares of the company’s stock, valued at $4,806,605. The sale was disclosed in a document filed 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 value of $750,990.57. Following the sale, the chief executive officer now directly owns 143,542 shares of the company’s stock, valued at $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 ninety days. 8.30% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of LGND. Janus Henderson Group PLC purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at approximately $72,293,000. Stifel Financial Corp increased its position in shares of Ligand Pharmaceuticals by 1,447.2% during the third quarter. Stifel Financial Corp now owns 109,124 shares of the biotechnology company’s stock valued at $14,839,000 after acquiring an additional 102,071 shares during the last quarter. Macquarie Group Ltd. increased its position in Ligand Pharmaceuticals by 27.3% in the second quarter. Macquarie Group Ltd. now owns 471,058 shares of the biotechnology company’s stock worth $57,186,000 after buying an additional 101,073 shares during the last quarter. Castleark Management LLC purchased a new stake in Ligand Pharmaceuticals in the second quarter worth $9,552,000. Finally, Royal Bank of Canada increased its position in Ligand Pharmaceuticals by 85.4% in the second quarter. Royal Bank of Canada now owns 167,943 shares of the biotechnology company’s stock worth $20,388,000 after buying an additional 77,337 shares during the last quarter.
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.
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