Ligand Pharmaceuticals (LGND) Lowered to “Strong Sell” at BidaskClub

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BidaskClub downgraded shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a sell rating to a strong sell rating in a research report sent to investors on Saturday.

LGND has been the subject of several other research reports. HC Wainwright increased their price target on shares of Ligand Pharmaceuticals from $270.00 to $280.00 and gave the stock a buy rating in a research report on Tuesday, October 2nd. Argus set a $300.00 price target on shares of Ligand Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Goldman Sachs Group started coverage on shares of Ligand Pharmaceuticals in a research report on Friday, August 17th. They issued a neutral rating and a $256.00 price target for the company. Stephens reissued a buy rating and issued a $248.00 price target on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 8th. Finally, ValuEngine lowered shares of Ligand Pharmaceuticals from a buy rating to a hold rating in a research report on Thursday, October 11th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Ligand Pharmaceuticals currently has a consensus rating of Hold and a consensus price target of $226.88.

NASDAQ LGND opened at $173.09 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.34 and a quick ratio of 2.32. Ligand Pharmaceuticals has a twelve month low of $126.50 and a twelve month high of $278.62. The stock has a market capitalization of $3.53 billion, a P/E ratio of 67.35, a P/E/G ratio of 1.46 and a beta of 1.06.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Monday, August 6th. The biotechnology company reported $2.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.25. Ligand Pharmaceuticals had a net margin of 52.10% and a return on equity of 25.95%. The business had revenue of $90.00 million during the quarter, compared to analysts’ expectations of $82.20 million. During the same quarter last year, the company earned $0.67 earnings per share. The firm’s revenue was up 221.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Ligand Pharmaceuticals will post 5.71 earnings per share for the current year.

In other news, Director John W. Kozarich sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $275.04, for a total transaction of $687,600.00. Following the completion of the sale, the director now owns 26,142 shares of the company’s stock, valued at $7,190,095.68. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John L. Higgins sold 34,500 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $241.96, for a total transaction of $8,347,620.00. Following the sale, the chief executive officer now directly owns 110,426 shares of the company’s stock, valued at approximately $26,718,674.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 119,922 shares of company stock valued at $30,297,452. Company insiders own 7.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Ligand Pharmaceuticals by 8.3% during the second quarter. BlackRock Inc. now owns 3,264,974 shares of the biotechnology company’s stock worth $676,405,000 after buying an additional 251,145 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Ligand Pharmaceuticals by 6.3% during the second quarter. Janus Henderson Group PLC now owns 927,101 shares of the biotechnology company’s stock worth $192,068,000 after buying an additional 54,990 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in shares of Ligand Pharmaceuticals by 12.8% during the third quarter. Conestoga Capital Advisors LLC now owns 566,223 shares of the biotechnology company’s stock worth $155,423,000 after buying an additional 64,329 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Ligand Pharmaceuticals by 5.3% during the second quarter. Victory Capital Management Inc. now owns 537,355 shares of the biotechnology company’s stock worth $111,324,000 after buying an additional 27,075 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Ligand Pharmaceuticals by 43.7% during the second quarter. Renaissance Technologies LLC now owns 523,494 shares of the biotechnology company’s stock worth $108,452,000 after buying an additional 159,100 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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Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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