Ligand Pharmaceuticals Inc. (NASDAQ:LGND) had its price target boosted by Craig Hallum from $150.00 to $160.00 in a research note released on Wednesday.
LGND has been the subject of several other reports. Roth Capital reissued a buy rating and set a $150.00 price objective (down from $151.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, September 28th. HC Wainwright reaffirmed a buy rating and issued a $160.00 price target (up from $146.00) on shares of Ligand Pharmaceuticals in a report on Wednesday. Deutsche Bank AG lowered Ligand Pharmaceuticals from a hold rating to a sell rating and raised their price target for the stock from $104.00 to $110.00 in a report on Friday, August 5th. They noted that the move was a valuation call. Vetr raised Ligand Pharmaceuticals from a buy rating to a strong-buy rating and set a $128.29 price target for the company in a report on Wednesday, August 10th. Finally, Zacks Investment Research raised Ligand Pharmaceuticals from a hold rating to a strong-buy rating and set a $135.00 price target for the company in a report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Ligand Pharmaceuticals has an average rating of Buy and a consensus price target of $139.25.
Ligand Pharmaceuticals (NASDAQ:LGND) traded down 1.59% during midday trading on Wednesday, hitting $99.67. The stock had a trading volume of 121,351 shares. The company’s 50 day moving average price is $108.47 and its 200-day moving average price is $117.10. The stock has a market capitalization of $2.08 billion, a price-to-earnings ratio of 9.40 and a beta of 1.23. Ligand Pharmaceuticals has a 52 week low of $82.06 and a 52 week high of $139.79.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.10. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. The business earned $19.50 million during the quarter, compared to analyst estimates of $18.12 million. During the same period in the prior year, the company earned $1.81 earnings per share. Ligand Pharmaceuticals’s revenue was up 6.0% compared to the same quarter last year. Equities analysts anticipate that Ligand Pharmaceuticals will post $3.45 earnings per share for the current fiscal year.
In other news, Director John W. Kozarich sold 1,666 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $105.40, for a total value of $175,596.40. Following the transaction, the director now owns 40,783 shares in the company, valued at $4,298,528.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John W. Kozarich sold 1,000 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $115.00, for a total value of $115,000.00. Following the completion of the transaction, the director now owns 39,983 shares in the company, valued at approximately $4,598,045. The disclosure for this sale can be found here. Company insiders own 14.70% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its position in Ligand Pharmaceuticals by 10.1% in the first quarter. State Street Corp now owns 699,788 shares of the biotechnology company’s stock valued at $74,940,000 after buying an additional 64,410 shares in the last quarter. BlackRock Inc. boosted its stake in Ligand Pharmaceuticals by 165.1% in the first quarter. BlackRock Inc. now owns 1,381 shares of the biotechnology company’s stock valued at $147,000 after buying an additional 860 shares during the last quarter. Rice Hall James & Associates LLC boosted its stake in Ligand Pharmaceuticals by 0.8% in the second quarter. Rice Hall James & Associates LLC now owns 185,829 shares of the biotechnology company’s stock valued at $22,164,000 after buying an additional 1,458 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in Ligand Pharmaceuticals during the second quarter valued at about $572,000. Finally, BlackRock Fund Advisors boosted its stake in Ligand Pharmaceuticals by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,377,004 shares of the biotechnology company’s stock valued at $147,463,000 after buying an additional 23,969 shares during the last quarter.
About Ligand Pharmaceuticals