Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) had its target price upped by analysts at Stifel Nicolaus from $255.00 to $332.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Stifel Nicolaus’ price target suggests a potential upside of 2.96% from the company’s previous close.
LGND has been the subject of a number of other research reports. Royal Bank Of Canada increased their price objective on Ligand Pharmaceuticals from $252.00 to $262.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. HC Wainwright boosted their target price on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Bank of America started coverage on Ligand Pharmaceuticals in a research note on Wednesday, March 11th. They issued a “buy” rating and a $244.00 price target on the stock. Citigroup upped their price objective on shares of Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Finally, Weiss Ratings lowered shares of Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 15th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Ligand Pharmaceuticals has a consensus rating of “Moderate Buy” and an average target price of $272.29.
Check Out Our Latest Report on Ligand Pharmaceuticals
Ligand Pharmaceuticals Trading Up 0.9%
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last issued its quarterly 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 business had revenue of $51.72 million during the quarter, compared to the consensus estimate of $59.10 million. During the same quarter last year, the firm posted $1.33 earnings per share. Ligand Pharmaceuticals’s revenue was up 14.1% compared to the same quarter last year. On average, equities analysts forecast that Ligand Pharmaceuticals will post 4.25 EPS for the current fiscal year.
Insider Buying and Selling
In other news, Director Jason Haas sold 6,461 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $255.58, for a total transaction of $1,651,302.38. Following the sale, the director owned 4,981 shares of the company’s stock, valued at approximately $1,273,043.98. This trade represents a 56.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John L. Lamattina sold 4,591 shares of the company’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $250.88, for a total value of $1,151,790.08. Following the completion of the transaction, the director owned 26,969 shares of the company’s stock, valued at $6,765,982.72. The trade was a 14.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 35,698 shares of company stock worth $9,019,252. 7.00% of the stock is currently owned by corporate insiders.
Institutional Trading of Ligand Pharmaceuticals
Large investors have recently bought and sold shares of the stock. Balefire LLC acquired a new position in Ligand Pharmaceuticals during the 2nd quarter worth about $330,000. GAMMA Investing LLC lifted its stake in shares of Ligand Pharmaceuticals by 5.7% during the second quarter. GAMMA Investing LLC now owns 681 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 37 shares during the period. Moody National Bank Trust Division bought a new position in Ligand Pharmaceuticals in the second quarter valued at about $3,840,000. CoreCap Advisors LLC boosted its holdings in Ligand Pharmaceuticals by 14,166.7% in the second quarter. CoreCap Advisors LLC now owns 428 shares of the biotechnology company’s stock valued at $135,000 after acquiring an additional 425 shares during the last quarter. Finally, Pacer Advisors Inc. acquired a new stake in Ligand Pharmaceuticals in the first quarter worth about $263,000. 91.28% of the stock is currently owned by institutional investors.
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.
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