Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report issued on Thursday.
Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday. Roth Capital set a $120.00 price target on shares of Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, May 22nd. BidaskClub cut shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Deutsche Bank AG reiterated a “hold” rating and set a $103.00 price target (up previously from $100.00) on shares of Ligand Pharmaceuticals in a research note on Monday, July 17th. Finally, Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $133.04.
Shares of Ligand Pharmaceuticals (NASDAQ LGND) opened at 126.97 on Thursday. The firm’s 50-day moving average is $121.23 and its 200-day moving average is $111.56. Ligand Pharmaceuticals has a one year low of $87.50 and a one year high of $129.94. The company’s market cap is $2.67 billion.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.42. The business had revenue of $28 million for the quarter, compared to analysts’ expectations of $24.40 million. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The company’s revenue was up 43.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.50 EPS. On average, equities analysts anticipate that Ligand Pharmaceuticals will post $2.83 EPS for the current year.
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In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 4,666 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $120.00, for a total value of $559,920.00. Following the sale, the chief executive officer now directly owns 143,837 shares in the company, valued at approximately $17,260,440. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Jason Aryeh sold 37,247 shares of Ligand Pharmaceuticals stock in a transaction on Friday, May 12th. The shares were sold at an average price of $110.76, for a total transaction of $4,125,477.72. Following the completion of the sale, the director now owns 58,959 shares in the company, valued at $6,530,298.84. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,534 shares of company stock worth $6,694,514. 14.70% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Tyers Asset Management LLC increased its stake in Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock worth $110,000 after buying an additional 196 shares during the period. LS Investment Advisors LLC increased its stake in Ligand Pharmaceuticals by 43.2% in the first quarter. LS Investment Advisors LLC now owns 1,197 shares of the biotechnology company’s stock worth $127,000 after buying an additional 361 shares during the period. Flinton Capital Management LLC increased its stake in Ligand Pharmaceuticals by 23.3% in the first quarter. Flinton Capital Management LLC now owns 1,258 shares of the biotechnology company’s stock worth $133,000 after buying an additional 238 shares during the period. Strs Ohio increased its stake in Ligand Pharmaceuticals by 225.0% in the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock worth $157,000 after buying an additional 900 shares during the period. Finally, First Mercantile Trust Co. increased its stake in Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after buying an additional 20 shares during the period.
Ligand Pharmaceuticals Company Profile
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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