Ligand Pharmaceuticals (NASDAQ:LGND) Hits New 12-Month High – Time to Buy?

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $191.03 and last traded at $189.97, with a volume of 71662 shares trading hands. The stock had previously closed at $186.98.

Analyst Upgrades and Downgrades

Several analysts have commented on LGND shares. Royal Bank Of Canada lifted their price target on Ligand Pharmaceuticals from $155.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Benchmark boosted their price target on Ligand Pharmaceuticals from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Oppenheimer upped their target price on Ligand Pharmaceuticals from $167.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, September 3rd. Wall Street Zen upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, HC Wainwright upped their price objective on Ligand Pharmaceuticals from $157.00 to $206.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.50.

Ligand Pharmaceuticals Stock Up 1.6%

The firm’s 50-day simple moving average is $171.81 and its 200 day simple moving average is $136.37. The stock has a market capitalization of $3.72 billion, a P/E ratio of -47.49 and a beta of 0.95.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, August 7th. The biotechnology company reported $1.60 EPS for the quarter, beating the consensus estimate of $1.54 by $0.06. Ligand Pharmaceuticals had a negative return on equity of 9.21% and a negative net margin of 40.44%.The business had revenue of $47.63 million during the quarter, compared to the consensus estimate of $43.87 million. During the same period in the prior year, the business posted $1.40 earnings per share. Ligand Pharmaceuticals’s revenue was up 14.7% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2025 guidance at 6.700-7.000 EPS. As a group, equities analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, Director John W. Kozarich sold 467 shares of the company’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $179.44, for a total transaction of $83,798.48. Following the transaction, the director directly owned 45,055 shares of the company’s stock, valued at approximately $8,084,669.20. The trade was a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason Aryeh sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $170.81, for a total value of $1,708,100.00. Following the transaction, the director directly owned 69,289 shares in the company, valued at $11,835,254.09. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 11,401 shares of company stock worth $1,929,262 over the last three months. 7.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its position in Ligand Pharmaceuticals by 3.3% during the first quarter. Principal Financial Group Inc. now owns 102,874 shares of the biotechnology company’s stock valued at $10,816,000 after buying an additional 3,284 shares during the period. GAMMA Investing LLC increased its position in Ligand Pharmaceuticals by 68.5% in the 1st quarter. GAMMA Investing LLC now owns 593 shares of the biotechnology company’s stock worth $62,000 after purchasing an additional 241 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Ligand Pharmaceuticals by 8.6% during the 1st quarter. American Century Companies Inc. now owns 40,456 shares of the biotechnology company’s stock worth $4,254,000 after purchasing an additional 3,219 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Ligand Pharmaceuticals by 14.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 745 shares of the biotechnology company’s stock valued at $85,000 after buying an additional 92 shares during the last quarter. Finally, Pacer Advisors Inc. bought a new stake in shares of Ligand Pharmaceuticals in the 1st quarter valued at approximately $265,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.