Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Free Report) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are covering the stock, MarketBeat.com reports. One analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $257.7143.
LGND has been the subject of a number of research analyst reports. Weiss Ratings cut Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Oppenheimer increased their target price on Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Bank of America assumed coverage on Ligand Pharmaceuticals in a report on Wednesday, March 11th. They issued a “buy” rating and a $244.00 price target on the stock. Wall Street Zen cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Citigroup increased their target price on Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a “buy” rating in a report on Wednesday, April 15th.
View Our Latest Stock Analysis on LGND
Ligand Pharmaceuticals Price Performance
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last released its earnings results on Thursday, May 7th. The biotechnology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.21). Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The company had revenue of $51.72 million for the quarter, compared to analyst estimates of $59.10 million. During the same period in the previous year, the firm earned $1.33 earnings per share. The company’s revenue for the quarter was up 14.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Ligand Pharmaceuticals will post 4.25 EPS for the current year.
Insiders Place Their Bets
In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $227.06, for a total value of $1,135,300.00. Following the transaction, the insider directly owned 41,382 shares of the company’s stock, valued at $9,396,196.92. This trade represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jason Aryeh sold 4,500 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $250.00, for a total value of $1,125,000.00. Following the sale, the director directly owned 102,580 shares in the company, valued at approximately $25,645,000. The trade was a 4.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 36,165 shares of company stock worth $8,553,493. Corporate insiders own 7.00% of the company’s stock.
Hedge Funds Weigh In On Ligand Pharmaceuticals
Hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC boosted its stake in Ligand Pharmaceuticals by 86.3% in the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 69 shares during the period. Kestra Advisory Services LLC acquired a new position in Ligand Pharmaceuticals in the fourth quarter valued at approximately $31,000. USA Financial Formulas acquired a new position in Ligand Pharmaceuticals in the fourth quarter valued at approximately $43,000. JPL Wealth Management LLC acquired a new position in Ligand Pharmaceuticals in the third quarter valued at approximately $52,000. Finally, Covestor Ltd raised its holdings in shares of Ligand Pharmaceuticals by 17,050.0% during the fourth quarter. Covestor Ltd now owns 343 shares of the biotechnology company’s stock valued at $65,000 after buying an additional 341 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.
The company’s product offerings center around several core platforms.
Read More
- Five stocks we like better than Ligand Pharmaceuticals
- Rocket Lab’s NASA Win Tests Key Support After Sharp Pullback
- AST SpaceMobile Just Nailed a Major Launch—So Why Is the Stock Crashing?
- Palantir’s Valuation Problem Just Met 2 New Growth Catalysts
- Xcel Energy Stock Offers Stability as Electricity Demand Builds
Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.
