Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Receives $165.40 Consensus PT from Analysts

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has received an average recommendation of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat reports. Four 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 objective among analysts that have issued a report on the stock in the last year is $165.40.

Several equities research analysts have recently commented on the company. Zacks Investment Research lowered Ligand Pharmaceuticals from a “strong-buy” rating to a “hold” rating and set a $131.00 price objective for the company. in a research note on Tuesday, July 7th. HC Wainwright reaffirmed a “buy” rating and set a $229.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday, June 15th. BidaskClub raised shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Thursday. ValuEngine lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Benchmark upped their price target on shares of Ligand Pharmaceuticals from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th.

In other Ligand Pharmaceuticals news, SVP Charles S. Berkman sold 11,146 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $118.59, for a total value of $1,321,804.14. Following the sale, the senior vice president now directly owns 40,877 shares in the company, valued at $4,847,603.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.40% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of LGND. Huntington National Bank grew its holdings in Ligand Pharmaceuticals by 64.8% in the second quarter. Huntington National Bank now owns 239 shares of the biotechnology company’s stock valued at $27,000 after purchasing an additional 94 shares during the last quarter. FSA Wealth Management LLC acquired a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth $26,000. Sunbelt Securities Inc. acquired a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth about $10,859,000. Verus Capital Partners LLC acquired a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth $63,000. Finally, Dupont Capital Management Corp purchased a new position in Ligand Pharmaceuticals in the 1st quarter valued at about $56,000.

Shares of Ligand Pharmaceuticals stock opened at $117.18 on Tuesday. The company has a 50-day moving average of $115.59 and a 200 day moving average of $99.38. Ligand Pharmaceuticals has a 1 year low of $57.24 and a 1 year high of $127.80. The firm has a market cap of $1.88 billion, a price-to-earnings ratio of -34.06, a PEG ratio of 2.97 and a beta of 1.64. The company has a debt-to-equity ratio of 0.69, a current ratio of 40.65 and a quick ratio of 40.29.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Wednesday, May 6th. The biotechnology company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.23. The company had revenue of $33.16 million during the quarter, compared to analyst estimates of $26.70 million. Ligand Pharmaceuticals had a negative net margin of 55.63% and a positive return on equity of 3.68%. The firm’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.16 EPS. On average, equities analysts anticipate that Ligand Pharmaceuticals will post 2.63 EPS for the current year.

Ligand Pharmaceuticals Company Profile

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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Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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