Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $147.00 Consensus PT from Analysts

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has been assigned an average rating of “Buy” from the six research firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $147.00.

A number of equities research analysts have recently issued reports on the stock. Benchmark reaffirmed a “buy” rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Royal Bank of Canada boosted their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a report on Wednesday, December 11th. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Barclays raised their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, StockNews.com upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th.

Ligand Pharmaceuticals Stock Up 3.7 %

Shares of Ligand Pharmaceuticals stock opened at $108.73 on Thursday. Ligand Pharmaceuticals has a 12-month low of $67.72 and a 12-month high of $129.90. The business’s 50 day moving average is $113.67 and its 200-day moving average is $112.13. The stock has a market cap of $2.09 billion, a P/E ratio of 43.32 and a beta of 1.12.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the transaction, the chief financial officer now owns 18,879 shares in the company, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.90% of the company’s stock.

Institutional Trading of Ligand Pharmaceuticals

Large investors have recently modified their holdings of the stock. Thrivent Financial for Lutherans grew its stake in Ligand Pharmaceuticals by 2.2% during the third quarter. Thrivent Financial for Lutherans now owns 15,084 shares of the biotechnology company’s stock worth $1,510,000 after buying an additional 329 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of Ligand Pharmaceuticals during the 3rd quarter worth approximately $329,000. Charles Schwab Investment Management Inc. increased its stake in Ligand Pharmaceuticals by 5.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 163,924 shares of the biotechnology company’s stock valued at $16,407,000 after acquiring an additional 8,584 shares during the last quarter. Fisher Asset Management LLC raised its position in Ligand Pharmaceuticals by 12.4% during the third quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company’s stock valued at $5,963,000 after purchasing an additional 6,555 shares in the last quarter. Finally, FMR LLC lifted its stake in Ligand Pharmaceuticals by 550.5% during the third quarter. FMR LLC now owns 12,749 shares of the biotechnology company’s stock worth $1,276,000 after purchasing an additional 10,789 shares during the last quarter. 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.