HC Wainwright Issues Positive Forecast for Ligand Pharmaceuticals (NASDAQ:LGND) Stock Price

Key Points

• HC Wainwright raised its price target on Ligand to $289 (from $243) and kept a "buy" rating—implying about a 28.5% upside—while the analyst consensus remains a Moderate Buy with an average target of $256.29.
• Ligand posted a strong quarter, beating estimates with $2.02 EPS (vs. $1.46 expected) and $59.67M revenue (up 39.5% YoY), and set FY2026 guidance of 8.00–9.00 EPS versus sell-side expectations of 5.47 EPS for the current fiscal year.
• Insiders have sold shares recently—30,915 shares worth about $6.39M in the last 90 days—though insiders still own roughly 7% of the company.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) had its price objective boosted by research analysts at HC Wainwright from $243.00 to $289.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the biotechnology company's stock. HC Wainwright's price target suggests a potential upside of 28.52% from the stock's previous close.

Several other analysts have also issued reports on LGND. Citigroup upped their target price on Ligand Pharmaceuticals from $276.00 to $282.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Oppenheimer upped 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. Wall Street Zen lowered Ligand Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Royal Bank Of Canada upped their target price on Ligand Pharmaceuticals from $235.00 to $252.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Bank of America assumed coverage on Ligand Pharmaceuticals in a research note on Wednesday, March 11th. They set a "buy" rating and a $244.00 price objective for the company. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Ligand Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $256.29.

Ligand Pharmaceuticals Stock Down 3.2%

LGND stock opened at $224.86 on Thursday. The company has a current ratio of 22.23, a quick ratio of 21.98 and a debt-to-equity ratio of 0.44. The company's 50 day moving average is $208.93 and its 200 day moving average is $199.17. The stock has a market cap of $4.51 billion, a price-to-earnings ratio of 38.57, a price-to-earnings-growth ratio of 2.67 and a beta of 1.14. Ligand Pharmaceuticals has a 1-year low of $98.89 and a 1-year high of $247.38.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its earnings results on Thursday, February 26th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.46 by $0.56. The business had revenue of $59.67 million during the quarter, compared to analyst estimates of $55.59 million. Ligand Pharmaceuticals had a return on equity of 13.86% and a net margin of 46.42%.Ligand Pharmaceuticals's revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.27 earnings per share. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. Sell-side analysts predict that Ligand Pharmaceuticals will post 5.47 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John W. Kozarich sold 467 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $202.23, for a total transaction of $94,441.41. Following the completion of the transaction, the director owned 42,253 shares in the company, valued at $8,544,824.19. This represents a 1.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Reardon sold 5,000 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $206.35, for a total value of $1,031,750.00. Following the transaction, the insider owned 36,869 shares of the company's stock, valued at approximately $7,607,918.15. This represents a 11.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 30,915 shares of company stock worth $6,385,917 in the last ninety days. Insiders own 7.00% of the company's stock.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the company. Salomon & Ludwin LLC bought a new position in Ligand Pharmaceuticals in the third quarter worth $26,000. CIBC Private Wealth Group LLC raised its holdings 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 worth $26,000 after purchasing an additional 69 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Ligand Pharmaceuticals in the fourth quarter worth $31,000. Richardson Financial Services Inc. raised its holdings in Ligand Pharmaceuticals by 85.8% in the third quarter. Richardson Financial Services Inc. now owns 210 shares of the biotechnology company's stock worth $37,000 after purchasing an additional 97 shares in the last quarter. Finally, USA Financial Formulas bought a new position in Ligand Pharmaceuticals in the fourth quarter worth $43,000. Institutional investors own 91.28% of the company's stock.

About Ligand Pharmaceuticals

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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