LGND has been the topic of several other reports. Roth Capital restated a buy rating and set a $151.00 price target on shares of Ligand Pharmaceuticals in a research report on Tuesday, September 20th. HC Wainwright reissued a buy rating and issued a $160.00 target price (up from $146.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 5th. Zacks Investment Research downgraded Ligand Pharmaceuticals from a strong-buy rating to a sell rating in a report on Tuesday, October 4th. Deutsche Bank AG raised Ligand Pharmaceuticals from a sell rating to a hold rating and dropped their target price for the stock from $110.00 to $105.00 in a report on Wednesday, September 7th. They noted that the move was a valuation call. Finally, Vetr raised Ligand Pharmaceuticals from a buy rating to a strong-buy rating and set a $128.29 target price on the stock in a report on Wednesday, August 10th. One analyst has rated the stock with a sell rating, one has issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $139.25.
Shares of Ligand Pharmaceuticals (NASDAQ:LGND) traded up 1.92% during midday trading on Wednesday, hitting $99.19. The stock had a trading volume of 112,023 shares. The stock’s 50-day moving average is $107.89 and its 200-day moving average is $116.95. Ligand Pharmaceuticals has a 12 month low of $82.06 and a 12 month high of $139.79. The stock has a market cap of $2.07 billion, a PE ratio of 9.35 and a beta of 1.23.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $19.50 million for the quarter, compared to analyst estimates of $18.12 million. During the same period in the previous year, the company posted $1.81 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. Equities analysts anticipate that Ligand Pharmaceuticals will post $3.44 EPS for the current year.
In other news, Director John W. Kozarich sold 1,000 shares of the company’s stock in a transaction on Monday, August 1st. The stock was sold at an average price of $137.57, for a total transaction of $137,570.00. Following the transaction, the director now directly owns 41,783 shares of the company’s stock, valued at $5,748,087.31. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John W. Kozarich sold 1,666 shares of the company’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $105.40, for a total value of $175,596.40. Following the transaction, the director now directly owns 40,783 shares in the company, valued at $4,298,528.20. The disclosure for this sale can be found here. Insiders own 14.70% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Ligand Pharmaceuticals by 165.1% in the first quarter. BlackRock Inc. now owns 1,381 shares of the biotechnology company’s stock worth $147,000 after buying an additional 860 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Ligand Pharmaceuticals by 4.3% in the third quarter. Independent Portfolio Consultants Inc. now owns 1,575 shares of the biotechnology company’s stock worth $161,000 after buying an additional 65 shares during the period. Howe & Rusling Inc. boosted its stake in Ligand Pharmaceuticals by 8.3% in the second quarter. Howe & Rusling Inc. now owns 1,375 shares of the biotechnology company’s stock worth $164,000 after buying an additional 105 shares during the period. US Bancorp DE boosted its stake in Ligand Pharmaceuticals by 73.4% in the second quarter. US Bancorp DE now owns 1,408 shares of the biotechnology company’s stock worth $168,000 after buying an additional 596 shares during the period. Finally, Strs Ohio boosted its stake in Ligand Pharmaceuticals by 166.7% in the second quarter. Strs Ohio now owns 1,600 shares of the biotechnology company’s stock worth $190,000 after buying an additional 1,000 shares during the period.
About Ligand Pharmaceuticals
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 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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