Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report)‘s stock had its “buy” rating reiterated by equities research analysts at HC Wainwright in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $358.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective would indicate a potential upside of 19.72% from the company’s previous close.
A number of other analysts have also issued reports on LGND. Weiss Ratings upgraded Ligand Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. 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. Leerink Partners initiated coverage on Ligand Pharmaceuticals in a report on Friday, August 14th. They issued an “outperform” rating and a $330.00 price target for the company. Oppenheimer reiterated an “outperform” rating and issued a $326.00 price target (up from $285.00) on shares of Ligand Pharmaceuticals in a report on Monday, August 3rd. Finally, Citigroup lifted their price objective on Ligand Pharmaceuticals from $390.00 to $397.00 and gave the company a “buy” rating in a report on Wednesday. Nine analysts have rated the stock with a Buy rating, According to MarketBeat, Ligand Pharmaceuticals has a consensus rating of “Buy” and a consensus price target of $337.00.
Read Our Latest Stock Analysis on Ligand Pharmaceuticals
Ligand Pharmaceuticals Trading Up 0.2%
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.97 by $0.40. Ligand Pharmaceuticals had a return on equity of 20.06% and a net margin of 67.88%.The business had revenue of $63.69 million during the quarter, compared to analyst estimates of $61.30 million. During the same quarter in the previous year, the business earned $1.60 earnings per share. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. Equities analysts expect that Ligand Pharmaceuticals will post 5.29 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Martine Zimmermann sold 1,200 shares of the firm’s stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $285.00, for a total value of $342,000.00. Following the completion of the sale, the director owned 3,897 shares of the company’s stock, valued at $1,110,645. This trade represents a 23.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Andrew Reardon sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $286.09, for a total value of $1,430,450.00. Following the completion of the sale, the insider directly owned 36,514 shares of the company’s stock, valued at $10,446,290.26. The trade was a 12.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 54,979 shares of company stock valued at $16,114,948. Company insiders own 5.60% of the company’s stock.
Institutional Trading of Ligand Pharmaceuticals
Institutional investors have recently made changes to their positions in the business. Janus Henderson Group PLC boosted its position in shares of Ligand Pharmaceuticals by 1.5% in the 1st quarter. Janus Henderson Group PLC now owns 1,009,891 shares of the biotechnology company’s stock worth $201,623,000 after purchasing an additional 14,491 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Ligand Pharmaceuticals by 115.9% in the 4th quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company’s stock worth $93,809,000 after purchasing an additional 266,304 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Ligand Pharmaceuticals by 4.1% in the 4th quarter. Geode Capital Management LLC now owns 493,589 shares of the biotechnology company’s stock worth $93,336,000 after purchasing an additional 19,400 shares in the last quarter. Ranger Investment Management L.P. acquired a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter worth $81,424,000. Finally, Rice Hall James & Associates LLC boosted its position in shares of Ligand Pharmaceuticals by 1.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 283,567 shares of the biotechnology company’s stock worth $56,614,000 after purchasing an additional 3,940 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.
More Ligand Pharmaceuticals News
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 exposure to a next-generation cell-therapy pipeline and could create longer-term economic returns if the programs advance successfully. Ligand and AvenCell Therapeutics Enter Financing Agreement
- Positive Sentiment: Analyst price-target increases: HC Wainwright reaffirmed its Buy rating and set a $358 price target, implying approximately 19.7% upside based on the referenced price. Citigroup also maintained a Buy rating and raised its target from $390 to $397, implying roughly 32.8% upside. The revisions signal continued analyst optimism about Ligand’s growth and royalty portfolio. Citigroup Raises Ligand Price Target
- Positive Sentiment: Ryjunea royalty acquisition: Ligand agreed to pay Sydnexis $23 million for royalty and milestone interests tied to Santen’s Ryjunea eye drug in Europe, the Middle East and Africa. The transaction adds another potential royalty stream and further diversifies Ligand’s portfolio of partnered pharmaceutical assets. Ligand Acquires Royalty and Milestone Interest in Ryjunea
- Neutral Sentiment: The AvenCell and Ryjunea transactions require upfront capital, and their ultimate value depends on clinical, regulatory and commercial success. The analyst targets are forecasts rather than guarantees.
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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