Trade Report: The Ligand Pharmaceuticals Inc. (LGND) Rating Lowered to Hold at TheStreet

The Ligand Pharmaceuticals Inc. (LGND) Rating Lowered to Hold at TheStreet

TheStreet lowered shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) from a buy rating to a hold rating in a research report sent to investors on Friday morning.

LGND has been the subject of a number of other research reports. Zacks Investment Research downgraded Ligand Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, July 5th. Roth Capital reiterated a buy rating and set a $147.00 price target on shares of Ligand Pharmaceuticals in a research report on Saturday, July 9th. Deutsche Bank AG downgraded Ligand Pharmaceuticals from a hold rating to a sell rating and lifted their price target for the company from $104.00 to $110.00 in a research report on Friday, August 5th. They noted that the move was a valuation call. Finally, Vetr upgraded Ligand Pharmaceuticals from a buy rating to a strong-buy rating and set a $128.29 price target for the company in a research report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Ligand Pharmaceuticals presently has a consensus rating of Buy and a consensus price target of $139.25.

Ligand Pharmaceuticals (NASDAQ:LGND) opened at 95.67 on Friday. The stock has a 50 day moving average of $107.16 and a 200-day moving average of $116.86. Ligand Pharmaceuticals has a 12-month low of $82.06 and a 12-month high of $139.79. The company has a market cap of $2.00 billion, a PE ratio of 9.02 and a beta of 1.23.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. The business earned $19.50 million during the quarter, compared to analyst estimates of $18.12 million. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.81 EPS. On average, equities research analysts anticipate that Ligand Pharmaceuticals will post $3.44 earnings per share for the current fiscal year.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $117.34, for a total value of $352,020.00. Following the completion of the sale, the chief executive officer now owns 122,664 shares in the company, valued at $14,393,393.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Kozarich sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $137.57, for a total value of $137,570.00. Following the completion of the sale, the director now owns 41,783 shares of the company’s stock, valued at approximately $5,748,087.31. The disclosure for this sale can be found here. 14.70% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. Meridian Investment Counsel Inc. increased its stake in shares of Ligand Pharmaceuticals by 1.0% in the second quarter. Meridian Investment Counsel Inc. now owns 2,920 shares of the biotechnology company’s stock valued at $348,000 after buying an additional 30 shares during the last quarter. Hanseatic Management Services Inc. increased its stake in shares of Ligand Pharmaceuticals by 0.8% in the second quarter. Hanseatic Management Services Inc. now owns 7,819 shares of the biotechnology company’s stock valued at $933,000 after buying an additional 60 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Ligand Pharmaceuticals by 4.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,575 shares of the biotechnology company’s stock valued at $161,000 after buying an additional 65 shares during the last quarter. Paradigm Asset Management Co. LLC increased its stake in shares of Ligand Pharmaceuticals by 1.8% in the second quarter. Paradigm Asset Management Co. LLC now owns 5,753 shares of the biotechnology company’s stock valued at $686,000 after buying an additional 100 shares during the last quarter. Finally, Howe & Rusling Inc. increased its stake in shares of Ligand Pharmaceuticals by 8.3% in the second quarter. Howe & Rusling Inc. now owns 1,375 shares of the biotechnology company’s stock valued at $164,000 after buying an additional 105 shares during the last quarter.

Ligand Pharmaceuticals Company Profile

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