Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $206.67 Average PT from Analysts


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Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has received a consensus recommendation of “Buy” from the eight analysts that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $205.33.

A number of analysts have recently weighed in on the stock. Barclays reduced their price target on shares of Ligand Pharmaceuticals from $198.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday. Stephens initiated coverage on shares of Ligand Pharmaceuticals in a report on Wednesday, April 14th. They set an “overweight” rating on the stock. Craig Hallum upped their price objective on shares of Ligand Pharmaceuticals from $195.00 to $215.00 in a research note on Thursday, February 4th. Roth Capital upped their price objective on shares of Ligand Pharmaceuticals from $195.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, February 4th. Finally, Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and set a $162.00 target price for the company in a research report on Tuesday, April 6th.

In other Ligand Pharmaceuticals news, COO Matthew W. Foehr sold 44,547 shares of the stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $176.86, for a total value of $7,878,582.42. Following the completion of the sale, the chief operating officer now directly owns 167,198 shares of the company’s stock, valued at approximately $29,570,638.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Charles S. Berkman sold 18,097 shares of the stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $178.50, for a total transaction of $3,230,314.50. Following the completion of the sale, the senior vice president now directly owns 47,003 shares of the company’s stock, valued at $8,390,035.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 67,727 shares of company stock valued at $12,192,288. 10.60% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in LGND. Cardinal Capital Management LLC CT lifted its holdings in Ligand Pharmaceuticals by 15.6% during the 4th quarter. Cardinal Capital Management LLC CT now owns 1,088,265 shares of the biotechnology company’s stock valued at $108,228,000 after purchasing an additional 146,970 shares during the last quarter. William Blair Investment Management LLC raised its stake in shares of Ligand Pharmaceuticals by 7.7% in the fourth quarter. William Blair Investment Management LLC now owns 2,041,045 shares of the biotechnology company’s stock worth $202,982,000 after acquiring an additional 145,671 shares during the last quarter. Norges Bank bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth about $13,396,000. Rice Hall James & Associates LLC raised its stake in shares of Ligand Pharmaceuticals by 30.4% in the fourth quarter. Rice Hall James & Associates LLC now owns 504,159 shares of the biotechnology company’s stock worth $50,139,000 after acquiring an additional 117,653 shares during the last quarter. Finally, Chicago Capital LLC raised its stake in shares of Ligand Pharmaceuticals by 34.8% in the first quarter. Chicago Capital LLC now owns 448,637 shares of the biotechnology company’s stock worth $68,395,000 after acquiring an additional 115,783 shares during the last quarter.

Shares of NASDAQ:LGND traded down $12.51 during trading on Thursday, reaching $132.72. 9,659 shares of the company’s stock traded hands, compared to its average volume of 486,538. The company has a debt-to-equity ratio of 0.65, a current ratio of 20.28 and a quick ratio of 19.96. Ligand Pharmaceuticals has a 12 month low of $78.26 and a 12 month high of $219.75. The company has a 50 day moving average of $152.30 and a 200-day moving average of $126.77. The stock has a market capitalization of $2.21 billion, a P/E ratio of -135.18, a price-to-earnings-growth ratio of 1.46 and a beta of 1.46.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Sunday, May 2nd. The biotechnology company reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.28. The business had revenue of $55.10 million during the quarter, compared to the consensus estimate of $63.00 million. Ligand Pharmaceuticals had a negative net margin of 11.23% and a positive return on equity of 5.90%. The company’s revenue for the quarter was up 66.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.89 EPS. Equities research analysts predict that Ligand Pharmaceuticals will post 2.74 earnings per share for the current fiscal year.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. The company's commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for the treatment of osteoporosis; Nexterone, a captisol-enabled formulation of amiodarone; Zulresso, a captisol-enabled formulation of brexanolone for the treatment of PPD; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Duavee for the treatment of postmenopausal osteoporosis; Aziyo portfolio of commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; Bryxta and Zybev for various indications; and Minnebro for the treatment of hypertension.

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Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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