Several other equities research analysts have also recently weighed in on LGND. Barclays decreased their price target on Ligand Pharmaceuticals from $131.00 to $110.00 and set an equal weight rating for the company in a research note on Monday, August 5th. Zacks Investment Research cut Ligand Pharmaceuticals from a hold rating to a strong sell rating and set a $95.00 price target for the company. in a research note on Thursday, August 8th. Argus set a $140.00 target price on Ligand Pharmaceuticals and gave the stock a buy rating in a research note on Monday, June 10th. HC Wainwright reaffirmed a buy rating and set a $214.00 target price (down previously from $254.00) on shares of Ligand Pharmaceuticals in a research note on Friday, May 3rd. Finally, ValuEngine cut Ligand Pharmaceuticals from a buy rating to a hold rating in a research note on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. Ligand Pharmaceuticals currently has a consensus rating of Hold and an average price target of $147.80.
Shares of LGND stock opened at $97.08 on Friday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 2.01 and a beta of 1.30. The stock has a 50-day moving average of $105.50 and a 200-day moving average of $115.36. The company has a current ratio of 13.23, a quick ratio of 13.15 and a debt-to-equity ratio of 0.61. Ligand Pharmaceuticals has a 1-year low of $88.23 and a 1-year high of $278.62.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.30. The company had revenue of $24.99 million during the quarter, compared to analysts’ expectations of $21.01 million. Ligand Pharmaceuticals had a return on equity of 11.24% and a net margin of 389.58%. The business’s quarterly revenue was down 72.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.59 earnings per share. Sell-side analysts forecast that Ligand Pharmaceuticals will post 2.28 earnings per share for the current year.
In other Ligand Pharmaceuticals news, CEO John L. Higgins bought 1,850 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $95.45 per share, with a total value of $176,582.50. Following the completion of the purchase, the chief executive officer now directly owns 146,749 shares of the company’s stock, valued at approximately $14,007,192.05. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jason Aryeh bought 746 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were acquired at an average cost of $90.01 per share, with a total value of $67,147.46. Following the purchase, the director now directly owns 66,453 shares of the company’s stock, valued at $5,981,434.53. The disclosure for this purchase can be found here. Insiders have purchased 9,350 shares of company stock valued at $927,504 in the last ninety days. 8.40% of the stock is currently owned by insiders.
Large investors have recently made changes to their positions in the business. Manchester Capital Management LLC bought a new position in Ligand Pharmaceuticals in the first quarter worth approximately $26,000. FTB Advisors Inc. bought a new position in Ligand Pharmaceuticals in the second quarter worth approximately $26,000. Tower Research Capital LLC TRC boosted its holdings in Ligand Pharmaceuticals by 188.6% in the second quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 149 shares in the last quarter. FinTrust Capital Advisors LLC boosted its holdings in Ligand Pharmaceuticals by 64.4% in the first quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 132 shares in the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in Ligand Pharmaceuticals in the second quarter worth approximately $46,000.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene 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; and Bryxta for non-small cell lung cancer.
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