Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has been assigned a consensus rating of “Hold” from the eight brokerages that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $147.80.
A number of research analysts have recently weighed in on the company. 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 report on Thursday, August 8th. Argus set a $140.00 price objective on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Monday, June 10th. ValuEngine cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, July 23rd. Barclays dropped their target price on shares of Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, August 5th. Finally, BidaskClub cut shares of Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, August 30th.
In related news, Director Jason Aryeh purchased 4,004 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was acquired at an average price of $99.22 per share, for a total transaction of $397,276.88. Following the completion of the purchase, the director now owns 61,953 shares in the company, valued at $6,146,976.66. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Sunil Patel purchased 1,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $95.98 per share, with a total value of $95,980.00. Following the purchase, the director now owns 26,359 shares of the company’s stock, valued at approximately $2,529,936.82. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 8,600 shares of company stock worth $828,747. Corporate insiders own 8.40% of the company’s stock.
Shares of NASDAQ:LGND traded up $1.59 during trading on Friday, hitting $87.84. 2,749 shares of the stock were exchanged, compared to its average volume of 329,435. The company has a fifty day moving average price of $95.10 and a two-hundred day moving average price of $112.45. The company has a market cap of $1.61 billion, a PE ratio of 14.14, a P/E/G ratio of 1.92 and a beta of 1.30. 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 12-month low of $85.87 and a 12-month high of $278.62.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data 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 firm had revenue of $24.99 million during the quarter, compared to the consensus estimate of $21.01 million. Ligand Pharmaceuticals had a return on equity of 11.24% and a net margin of 389.58%. Ligand Pharmaceuticals’s quarterly revenue was down 72.2% on a year-over-year basis. During the same period last year, the business posted $2.59 EPS. Equities research analysts anticipate that Ligand Pharmaceuticals will post 2.28 earnings per share for the current fiscal year.
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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