Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report)‘s stock had its “buy” rating restated by HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They presently have a $358.00 price objective on the biotechnology company’s stock. HC Wainwright’s target price would suggest a potential upside of 20.05% from the stock’s current price.
Several other analysts have also issued reports on LGND. Leerink Partners assumed coverage on Ligand Pharmaceuticals in a report on Friday, August 14th. They set an “outperform” rating and a $330.00 price target for the company. Bank of America boosted their price target on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the company a “buy” rating in a report on Thursday, July 9th. Royal Bank Of Canada boosted their price target on Ligand Pharmaceuticals from $340.00 to $345.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Weiss Ratings raised Ligand Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Finally, Oppenheimer reissued an “outperform” rating and issued a $326.00 price objective (up from $285.00) on shares of Ligand Pharmaceuticals in a research note on Monday, August 3rd. Nine analysts have rated the stock with a Buy rating, According to MarketBeat, Ligand Pharmaceuticals has an average rating of “Buy” and a consensus target price of $337.00.
Read Our Latest Stock Analysis on Ligand Pharmaceuticals
Ligand Pharmaceuticals Stock Performance
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.40. The company had revenue of $63.69 million for the quarter, compared to the consensus estimate of $61.30 million. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The firm’s revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the firm posted $1.60 earnings per share. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. Research analysts forecast that Ligand Pharmaceuticals will post 5.29 earnings per share for the current fiscal year.
Insider Activity at Ligand Pharmaceuticals
In other news, insider Andrew Reardon sold 5,000 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $286.09, for a total transaction of $1,430,450.00. Following the completion of the transaction, the insider directly owned 36,514 shares in the company, valued at approximately $10,446,290.26. This represents a 12.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Martine Zimmermann sold 1,200 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $285.00, for a total value of $342,000.00. Following the transaction, the director owned 3,897 shares of the company’s stock, valued at $1,110,645. This represents a 23.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 54,979 shares of company stock worth $16,114,948 in the last quarter. 5.60% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janus Henderson Group PLC grew its position in Ligand Pharmaceuticals by 1.5% in the first quarter. Janus Henderson Group PLC now owns 1,009,891 shares of the biotechnology company’s stock worth $201,623,000 after acquiring an additional 14,491 shares in the last quarter. Franklin Resources Inc. increased its position in Ligand Pharmaceuticals by 115.9% during the fourth quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company’s stock valued at $93,809,000 after acquiring an additional 266,304 shares during the last quarter. Geode Capital Management LLC increased its position in Ligand Pharmaceuticals by 4.1% during the fourth quarter. Geode Capital Management LLC now owns 493,589 shares of the biotechnology company’s stock valued at $93,336,000 after acquiring an additional 19,400 shares during the last quarter. Ranger Investment Management L.P. bought a new position in Ligand Pharmaceuticals during the second quarter valued at $81,424,000. Finally, Rice Hall James & Associates LLC raised its holdings in shares of Ligand Pharmaceuticals by 1.4% in the first quarter. Rice Hall James & Associates LLC now owns 283,567 shares of the biotechnology company’s stock worth $56,614,000 after buying an additional 3,940 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.
Trending Headlines about Ligand Pharmaceuticals
Here are the key news stories impacting Ligand Pharmaceuticals this week:
- Positive Sentiment: New AvenCell financing agreement: Ligand committed up to $47 million to AvenCell Therapeutics, a clinical-stage biotechnology company developing controllable, allogeneic CAR-T therapies for cancer. The agreement gives Ligand potential exposure to an innovative cell-therapy pipeline and supports future royalty and milestone economics, although the therapies remain in development. Ligand and AvenCell Therapeutics financing agreement
- Positive Sentiment: Ryjunea royalty acquisition: Ligand agreed to pay Sydnexis $23 million for royalty and milestone interests tied to Santen’s Ryjunea ophthalmic drug in Europe, the Middle East and Africa. The transaction expands Ligand’s portfolio of potential recurring royalty income and further demonstrates its asset-focused capital-allocation strategy. Ligand acquires Ryjunea royalty and milestone interest
- Positive Sentiment: HC Wainwright reiterates Buy: The firm maintained its Buy rating and set a $358 price target, implying approximately 18.6% upside based on the cited share price. The target signals continued confidence in Ligand’s royalty portfolio and growth prospects. HC Wainwright rating update
- Positive Sentiment: Citigroup raises price target: Citi increased its target from $390 to $397 and reaffirmed a Buy rating, suggesting analysts see additional upside after Ligand’s recent gains. Citigroup raises Ligand price target
- Neutral Sentiment: The AvenCell commitment and Ryjunea purchase require upfront capital, and returns depend on clinical development, regulatory approval, commercial performance and future royalty generation. These transactions may therefore increase long-term opportunity while adding execution risk.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated is a biopharmaceutical company that develops, acquires and licenses technologies designed to help pharmaceutical companies discover, develop and commercialize medicines. Rather than focusing primarily on building a large portfolio of internally marketed drugs, Ligand operates an asset-light business model centered on partnerships, licensing agreements, royalties and other economic interests in partnered products.
The company’s principal technology is Captisol, a proprietary modified cyclodextrin designed to improve the solubility, stability and delivery of certain drug compounds.
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