Ligand Pharmaceuticals Incorporated (LGND) Given a $159.00 Price Target by HC Wainwright Analysts
HC Wainwright set a $159.00 price target on Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the biotechnology company’s stock.
Several other equities analysts have also recently issued reports on the company. Roth Capital set a $158.00 price objective on Ligand Pharmaceuticals and gave the stock a buy rating in a research note on Monday. Zacks Investment Research upgraded Ligand Pharmaceuticals from a hold rating to a strong-buy rating and set a $165.00 price objective on the stock in a research note on Thursday, October 12th. ValuEngine upgraded Ligand Pharmaceuticals from a sell rating to a hold rating in a research note on Thursday, August 10th. Stephens restated an overweight rating and set a $137.00 price objective (up from $125.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 9th. Finally, TheStreet upgraded Ligand Pharmaceuticals from a c rating to a b- rating in a research note on Monday, August 7th. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $148.83.
Ligand Pharmaceuticals (LGND) traded down $2.64 during trading on Wednesday, hitting $141.71. The stock had a trading volume of 401,319 shares, compared to its average volume of 248,070. The stock has a market cap of $3,061.77, a PE ratio of 109.07, a P/E/G ratio of 2.24 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97. Ligand Pharmaceuticals has a 12 month low of $95.08 and a 12 month high of $149.31.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The firm had revenue of $33.38 million for the quarter, compared to analysts’ expectations of $31.04 million. During the same period last year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was up 54.4% on a year-over-year basis. equities analysts forecast that Ligand Pharmaceuticals will post 2.35 EPS for the current year.
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In other news, CEO John L. Higgins sold 5,000 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the transaction, the chief executive officer now directly owns 144,171 shares of the company’s stock, valued at $18,742,230. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason Aryeh sold 2,000 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $127.99, for a total value of $255,980.00. Following the transaction, the director now directly owns 59,625 shares in the company, valued at $7,631,403.75. The disclosure for this sale can be found here. 14.70% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its holdings in shares of Ligand Pharmaceuticals by 2.6% during the second quarter. BlackRock Inc. now owns 2,683,880 shares of the biotechnology company’s stock valued at $325,822,000 after purchasing an additional 68,887 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Ligand Pharmaceuticals by 2.6% during the second quarter. William Blair Investment Management LLC now owns 1,773,434 shares of the biotechnology company’s stock valued at $215,295,000 after purchasing an additional 45,256 shares during the period. Vanguard Group Inc. increased its holdings in shares of Ligand Pharmaceuticals by 3.2% during the second quarter. Vanguard Group Inc. now owns 1,741,818 shares of the biotechnology company’s stock valued at $211,457,000 after purchasing an additional 54,200 shares during the period. Janus Henderson Group PLC increased its holdings in shares of Ligand Pharmaceuticals by 26.7% during the third quarter. Janus Henderson Group PLC now owns 754,692 shares of the biotechnology company’s stock valued at $102,751,000 after purchasing an additional 159,201 shares during the period. Finally, Eagle Asset Management Inc. increased its holdings in shares of Ligand Pharmaceuticals by 7.7% during the second quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock valued at $59,588,000 after purchasing an additional 35,289 shares during the period.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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