Ligand Pharmaceuticals (NASDAQ:LGND) Raised to Buy at BidaskClub

BidaskClub upgraded shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a hold rating to a buy rating in a report published on Thursday morning, BidAskClub reports.

LGND has been the subject of a number of other research reports. Zacks Investment Research downgraded Ligand Pharmaceuticals from a strong-buy rating to a hold rating and set a $131.00 price objective for the company. in a research report on Tuesday, July 7th. Benchmark lifted their price objective on Ligand Pharmaceuticals from $135.00 to $155.00 and gave the company a buy rating in a research report on Tuesday, July 14th. ValuEngine downgraded Ligand Pharmaceuticals from a buy rating to a hold rating in a research report on Monday, May 11th. Finally, HC Wainwright reaffirmed a buy rating and issued a $229.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, June 15th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $165.40.

NASDAQ LGND opened at $117.18 on Thursday. Ligand Pharmaceuticals has a fifty-two week low of $57.24 and a fifty-two week high of $127.80. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -34.06, a price-to-earnings-growth ratio of 2.97 and a beta of 1.64. The business has a fifty day moving average of $115.59 and a 200-day moving average of $99.38. The company has a quick ratio of 40.29, a current ratio of 40.65 and a debt-to-equity ratio of 0.69.

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

In other Ligand Pharmaceuticals news, SVP Charles S. Berkman sold 11,146 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $118.59, for a total transaction of $1,321,804.14. Following the completion of the sale, the senior vice president now owns 40,877 shares of the company’s stock, valued at $4,847,603.43. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.40% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Huntington National Bank lifted its stake in shares of Ligand Pharmaceuticals by 64.8% during the second quarter. Huntington National Bank now owns 239 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 94 shares in the last quarter. Dupont Capital Management Corp acquired a new position in shares of Ligand Pharmaceuticals during the first quarter worth about $56,000. Verus Capital Partners LLC acquired a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth about $63,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in shares of Ligand Pharmaceuticals by 17.1% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,234 shares of the biotechnology company’s stock worth $90,000 after purchasing an additional 180 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Ligand Pharmaceuticals by 21.4% during the first quarter. Nisa Investment Advisors LLC now owns 1,530 shares of the biotechnology company’s stock worth $111,000 after purchasing an additional 270 shares in the last quarter.

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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