Equities researchers at Barclays began coverage on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a research report issued to clients and investors on Tuesday, Marketbeat reports. The firm set an “equal weight” rating and a $131.00 price target on the biotechnology company’s stock. Barclays‘s price target points to a potential upside of 18.73% from the stock’s current price.

LGND has been the topic of a number of other research reports. HC Wainwright reissued a “buy” rating and set a $254.00 price target (down previously from $281.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, March 6th. Zacks Investment Research raised Ligand Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $138.00 price target on the stock in a research note on Tuesday, March 26th. BidaskClub raised Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 27th. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. Finally, Argus reissued a “buy” rating and set a $150.00 price target (down previously from $200.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, February 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $195.88.

Shares of NASDAQ:LGND opened at $110.33 on Tuesday. Ligand Pharmaceuticals has a one year low of $98.56 and a one year high of $278.62. The firm has a market cap of $2.12 billion, a price-to-earnings ratio of 17.57, a P/E/G ratio of 2.43 and a beta of 1.40. The company has a debt-to-equity ratio of 0.57, a quick ratio of 8.33 and a current ratio of 8.39.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.28. Ligand Pharmaceuticals had a return on equity of 19.21% and a net margin of 320.12%. The company had revenue of $43.48 million for the quarter, compared to analyst estimates of $38.28 million. During the same quarter in the prior year, the company posted $1.55 EPS. The business’s revenue for the quarter was down 22.6% compared to the same quarter last year. As a group, equities research analysts forecast that Ligand Pharmaceuticals will post 2.34 earnings per share for the current year.

In related news, CEO John L. Higgins purchased 2,500 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was purchased at an average cost of $113.50 per share, for a total transaction of $283,750.00. Following the acquisition, the chief executive officer now owns 28,042 shares in the company, valued at $3,182,767. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jason Aryeh purchased 250 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average price of $107.01 per share, with a total value of $26,752.50. Following the completion of the acquisition, the director now owns 61,703 shares in the company, valued at approximately $6,602,838.03. The disclosure for this purchase can be found here. Insiders purchased a total of 4,500 shares of company stock worth $503,895 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in LGND. Marshall Wace North America L.P. grew its stake in Ligand Pharmaceuticals by 520.3% in the first quarter. Marshall Wace North America L.P. now owns 71,055 shares of the biotechnology company’s stock worth $8,932,000 after purchasing an additional 59,600 shares in the last quarter. Dana Investment Advisors Inc. grew its stake in Ligand Pharmaceuticals by 31.6% in the first quarter. Dana Investment Advisors Inc. now owns 16,348 shares of the biotechnology company’s stock worth $2,055,000 after purchasing an additional 3,921 shares in the last quarter. Macquarie Group Ltd. grew its stake in Ligand Pharmaceuticals by 11.6% in the first quarter. Macquarie Group Ltd. now owns 490,782 shares of the biotechnology company’s stock worth $61,697,000 after purchasing an additional 51,195 shares in the last quarter. Coastal Investment Advisors Inc. acquired a new position in Ligand Pharmaceuticals in the first quarter worth about $25,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in Ligand Pharmaceuticals in the first quarter worth about $138,000.

Ligand Pharmaceuticals Company Profile

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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