Ligand Pharmaceuticals (LGND) Reaches New 1-Year High at $202.64

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Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) hit a new 52-week high on Thursday . The company traded as high as $202.64 and last traded at $198.39, with a volume of 5374 shares traded. The stock had previously closed at $200.80.

A number of brokerages have recently weighed in on LGND. Craig Hallum reaffirmed a “buy” rating and set a $200.00 price target (up previously from $190.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, March 7th. Argus began coverage on shares of Ligand Pharmaceuticals in a report on Thursday. They set a “buy” rating for the company. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. BidaskClub downgraded shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 13th. Finally, Roth Capital upped their price target on shares of Ligand Pharmaceuticals from $158.00 to $171.00 and gave the stock a “buy” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $161.00.

The company has a current ratio of 1.41, a quick ratio of 1.37 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 57.04, a P/E/G ratio of 1.84 and a beta of 0.96.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported $1.55 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.26. The business had revenue of $56.16 million during the quarter, compared to analysts’ expectations of $43.02 million. Ligand Pharmaceuticals had a net margin of 31.40% and a return on equity of 19.10%. The firm’s quarterly revenue was up 91.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS. equities analysts predict that Ligand Pharmaceuticals Inc. will post 4.33 earnings per share for the current year.

In related news, Director John L. Lamattina sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $194.51, for a total transaction of $778,040.00. Following the completion of the transaction, the director now directly owns 24,956 shares in the company, valued at approximately $4,854,191.56. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Matthew W. Foehr sold 8,881 shares of the company’s stock in a transaction that occurred on Thursday, May 10th. The stock was sold at an average price of $167.63, for a total transaction of $1,488,722.03. Following the transaction, the insider now owns 110,082 shares of the company’s stock, valued at $18,453,045.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,786 shares of company stock valued at $4,900,365. 7.80% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in LGND. Assetmark Inc. increased its position in Ligand Pharmaceuticals by 336.4% during the 4th quarter. Assetmark Inc. now owns 1,056 shares of the biotechnology company’s stock worth $145,000 after purchasing an additional 814 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ligand Pharmaceuticals by 48.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,101 shares of the biotechnology company’s stock worth $151,000 after purchasing an additional 359 shares in the last quarter. We Are One Seven LLC acquired a new position in Ligand Pharmaceuticals during the 4th quarter worth approximately $179,000. Dynamic Technology Lab Private Ltd acquired a new position in Ligand Pharmaceuticals during the 1st quarter worth approximately $231,000. Finally, Meadow Creek Investment Management LLC increased its position in Ligand Pharmaceuticals by 27.9% during the 4th quarter. Meadow Creek Investment Management LLC now owns 1,760 shares of the biotechnology company’s stock worth $241,000 after purchasing an additional 384 shares in the last quarter.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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