Analysts Set Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Price Target at $165.83

Share on StockTwits

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has been assigned a consensus rating of “Hold” from the eight ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $147.80.

Several analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating and set a $95.00 price target for the company. in a research report on Thursday, August 8th. BidaskClub raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Friday. Barclays reduced their price target on shares of Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday, August 5th. Argus set a $140.00 price target on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, June 10th. Finally, ValuEngine downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd.

In other news, Director Jason Aryeh acquired 1,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were purchased at an average cost of $109.51 per share, with a total value of $109,510.00. Following the acquisition, the director now directly owns 59,868 shares of the company’s stock, valued at $6,556,144.68. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO John L. Higgins acquired 1,850 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were purchased at an average cost of $95.45 per share, for a total transaction of $176,582.50. Following the completion of the acquisition, the chief executive officer now directly owns 146,749 shares in the company, valued at $14,007,192.05. The disclosure for this purchase can be found here. Insiders have acquired a total of 9,600 shares of company stock worth $955,507 over the last ninety days. Insiders own 8.40% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of LGND. Royal Bank of Canada increased its position in shares of Ligand Pharmaceuticals by 43.3% during the second quarter. Royal Bank of Canada now owns 87,281 shares of the biotechnology company’s stock valued at $9,963,000 after buying an additional 26,372 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Ligand Pharmaceuticals by 23.5% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 820 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 156 shares during the period. Eaton Vance Management increased its position in shares of Ligand Pharmaceuticals by 67.4% during the second quarter. Eaton Vance Management now owns 118,307 shares of the biotechnology company’s stock valued at $13,505,000 after buying an additional 47,614 shares during the period. Voloridge Investment Management LLC increased its position in shares of Ligand Pharmaceuticals by 32.5% during the second quarter. Voloridge Investment Management LLC now owns 27,482 shares of the biotechnology company’s stock valued at $3,137,000 after buying an additional 6,741 shares during the period. Finally, Nuveen Asset Management LLC bought a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at about $13,081,000.

NASDAQ LGND traded up $3.17 during mid-day trading on Tuesday, hitting $94.94. The company’s stock had a trading volume of 300,500 shares, compared to its average volume of 490,307. The company’s 50 day simple moving average is $106.62 and its 200 day simple moving average is $115.66. Ligand Pharmaceuticals has a twelve month low of $88.23 and a twelve month high of $278.62. The company has a current ratio of 13.23, a quick ratio of 13.15 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 2.01 and a beta of 1.30.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.30. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. The business had revenue of $24.99 million during the quarter, compared to the consensus estimate of $21.01 million. During the same quarter last year, the firm posted $2.59 EPS. Ligand Pharmaceuticals’s revenue was down 72.2% compared to the same quarter last year. As a group, research analysts forecast that Ligand Pharmaceuticals will post 2.28 EPS for the current year.

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; Aziyo portfolio of 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.

Featured Story: Call Option Volume

Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.