Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) have earned an average rating of “Hold” from the ten analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $224.67.

A number of equities research analysts have weighed in on the company. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Friday, April 5th. Zacks Investment Research lowered Ligand Pharmaceuticals from a “buy” rating to a “strong sell” rating in a report on Wednesday, March 27th. BidaskClub raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, March 14th. HC Wainwright reissued a “buy” rating and set a $254.00 price target on shares of Ligand Pharmaceuticals in a research note on Wednesday, March 13th. Finally, Roth Capital decreased their price target on Ligand Pharmaceuticals from $195.00 to $180.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th.

In related news, CEO John L. Higgins acquired 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $114.29 per share, for a total transaction of $285,725.00. Following the transaction, the chief executive officer now directly owns 141,399 shares of the company’s stock, valued at approximately $16,160,491.71. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 7.80% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Ligand Pharmaceuticals by 3.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after purchasing an additional 66,789 shares during the last quarter. Vanguard Group Inc raised its position in shares of Ligand Pharmaceuticals by 3.3% during the 3rd quarter. Vanguard Group Inc now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after purchasing an additional 66,789 shares during the last quarter. Millennium Management LLC raised its position in shares of Ligand Pharmaceuticals by 468.8% during the 4th quarter. Millennium Management LLC now owns 546,957 shares of the biotechnology company’s stock worth $74,222,000 after purchasing an additional 450,791 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Ligand Pharmaceuticals by 7.2% during the 4th quarter. Victory Capital Management Inc. now owns 469,600 shares of the biotechnology company’s stock worth $63,725,000 after purchasing an additional 31,475 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Ligand Pharmaceuticals by 10.1% during the 4th quarter. Eagle Asset Management Inc. now owns 443,276 shares of the biotechnology company’s stock worth $60,152,000 after purchasing an additional 40,527 shares during the last quarter.

LGND traded down $2.05 during trading on Wednesday, reaching $125.79. The company’s stock had a trading volume of 291,964 shares, compared to its average volume of 685,815. Ligand Pharmaceuticals has a 52-week low of $98.56 and a 52-week high of $278.62. The firm has a market capitalization of $2.61 billion, a PE ratio of 20.03, a P/E/G ratio of 1.97 and a beta of 1.37. The company has a current ratio of 10.58, a quick ratio of 10.50 and a debt-to-equity ratio of 1.09.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.48. Ligand Pharmaceuticals had a return on equity of 26.00% and a net margin of 57.00%. The company had revenue of $59.59 million for the quarter, compared to analyst estimates of $52.58 million. During the same quarter in the previous year, the company earned $1.31 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, sell-side analysts predict that Ligand Pharmaceuticals will post 3.24 EPS for the current year.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; Aziyo portfolio of commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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