Analysts Set Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) PT at $146.43

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) has earned a consensus rating of "Buy" from the seven analysts that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $146.43.

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus initiated coverage on Ligand Pharmaceuticals in a research note on Thursday, April 10th. They issued a "buy" rating and a $143.00 price target for the company. StockNews.com upgraded shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th.

Insider Activity at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the transaction, the chief financial officer now directly owns 18,879 shares in the company, valued at $2,171,651.37. This trade represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Ligand Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LGND. Opal Wealth Advisors LLC bought a new stake in Ligand Pharmaceuticals during the first quarter worth $32,000. Smartleaf Asset Management LLC lifted its position in shares of Ligand Pharmaceuticals by 119.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock valued at $43,000 after purchasing an additional 221 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in Ligand Pharmaceuticals during the fourth quarter worth about $43,000. Redwood Park Advisors LLC bought a new stake in Ligand Pharmaceuticals in the 4th quarter worth about $48,000. Finally, Sterling Capital Management LLC increased its stake in Ligand Pharmaceuticals by 825.4% in the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock valued at $59,000 after buying an additional 487 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Ligand Pharmaceuticals Stock Performance

Shares of Ligand Pharmaceuticals stock traded down $3.25 on Monday, hitting $105.31. The stock had a trading volume of 35,447 shares, compared to its average volume of 120,052. The stock has a 50 day moving average of $109.02 and a 200 day moving average of $112.21. Ligand Pharmaceuticals has a twelve month low of $69.51 and a twelve month high of $129.90. The firm has a market capitalization of $2.03 billion, a P/E ratio of 41.93 and a beta of 1.07.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.