Ligand Pharmaceuticals (NASDAQ:LGND) PT Set at $140.00 by Argus

Ligand Pharmaceuticals (NASDAQ:LGND) received a $140.00 price objective from stock analysts at Argus in a research report issued to clients and investors on Monday, TipRanks reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Argus’ target price indicates a potential upside of 30.08% from the stock’s current price.

A number of other equities research analysts have also recently commented on LGND. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a report on Wednesday, February 27th. HC Wainwright reiterated a “buy” rating and set a $254.00 price target (down previously from $281.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, March 6th. ValuEngine cut shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 6th. Roth Capital cut their price target on shares of Ligand Pharmaceuticals from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. Finally, Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “buy” rating to a “strong sell” rating in a report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $195.88.

Shares of NASDAQ LGND traded down $3.85 on Monday, reaching $107.63. 342,760 shares of the company’s stock traded hands, compared to its average volume of 559,582. Ligand Pharmaceuticals has a 12 month low of $98.56 and a 12 month high of $278.62. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 17.14, a P/E/G ratio of 2.43 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a quick ratio of 8.33 and a current ratio of 8.39.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, May 2nd. The biotechnology company reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.28. Ligand Pharmaceuticals had a net margin of 320.12% and a return on equity of 19.21%. The business had revenue of $43.48 million during the quarter, compared to the consensus estimate of $38.28 million. During the same quarter last year, the firm earned $1.55 earnings per share. The business’s revenue for the quarter was down 22.6% on a year-over-year basis. On average, analysts forecast that Ligand Pharmaceuticals will post 2.34 earnings per share for the current fiscal year.

In other Ligand Pharmaceuticals news, Director Jason Aryeh bought 250 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, May 14th. The shares were purchased at an average cost of $112.51 per share, for a total transaction of $28,127.50. Following the acquisition, the director now directly owns 59,368 shares in the company, valued at approximately $6,679,493.68. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John L. Higgins purchased 2,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average cost of $114.29 per share, with a total value of $285,725.00. Following the completion of the purchase, the chief executive officer now owns 141,399 shares in the company, valued at approximately $16,160,491.71. The disclosure for this purchase can be found here. Insiders have bought a total of 6,952 shares of company stock worth $785,595 over the last 90 days. Insiders own 7.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in LGND. Vanguard Group Inc raised its holdings in shares of Ligand Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after buying an additional 66,789 shares during the period. Bank of Montreal Can raised its holdings in shares of Ligand Pharmaceuticals by 3.4% in the fourth quarter. Bank of Montreal Can now owns 10,002 shares of the biotechnology company’s stock worth $1,357,000 after buying an additional 330 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth approximately $150,000. Advisors Asset Management Inc. grew its stake in Ligand Pharmaceuticals by 11.0% in the fourth quarter. Advisors Asset Management Inc. now owns 9,552 shares of the biotechnology company’s stock worth $1,296,000 after purchasing an additional 947 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Ligand Pharmaceuticals by 30.8% in the fourth quarter. Rhumbline Advisers now owns 67,591 shares of the biotechnology company’s stock worth $9,172,000 after purchasing an additional 15,915 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; 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.

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Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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