Ligand Pharmaceuticals (NASDAQ:LGND) Now Covered by Leerink Partners

Key Points

• Leerink Partners initiated coverage of Ligand Pharmaceuticals with an “outperform” rating. MarketBeat reports that nine analysts rate the stock a Buy, with an average price target of $336.57.
• Ligand’s latest quarterly results exceeded expectations, with EPS of $2.37 versus the $1.97 consensus and revenue of $63.69 million versus $61.30 million expected. Revenue increased 33.8% year over year.
• LGND shares recently traded at $288.77, near the upper end of their 12-month range of $149.51 to $326.63. Insiders sold $8.74 million worth of stock over the past 90 days, while institutional investors own 91.28% of the shares.

Investment analysts at Leerink Partners initiated coverage on shares of Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) in a research report issued on Friday, Marketbeat.com reports. The brokerage set an "outperform" rating on the biotechnology company's stock.

Several other brokerages have also recently weighed in on LGND. Stifel Nicolaus increased their target price on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. HC Wainwright increased their target price on shares of Ligand Pharmaceuticals from $289.00 to $358.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Royal Bank Of Canada increased their price objective on Ligand Pharmaceuticals from $340.00 to $345.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Weiss Ratings upgraded Ligand Pharmaceuticals from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $326.00 price target (up from $285.00) on shares of Ligand Pharmaceuticals in a research note on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat, Ligand Pharmaceuticals currently has an average rating of "Buy" and an average price target of $336.57.

Ligand Pharmaceuticals Price Performance

Shares of LGND stock traded down $0.05 during trading hours on Friday, hitting $288.77. 12,413 shares of the company's stock were exchanged, compared to its average volume of 279,220. The company has a market capitalization of $5.76 billion, a PE ratio of 30.83, a PEG ratio of 2.55 and a beta of 1.13. The company has a current ratio of 34.52, a quick ratio of 20.95 and a debt-to-equity ratio of 1.16. Ligand Pharmaceuticals has a 12-month low of $149.51 and a 12-month high of $326.63. The business's 50 day simple moving average is $290.64 and its 200-day simple moving average is $238.17.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.97 by $0.40. The company had revenue of $63.69 million during the quarter, compared to analysts' expectations of $61.30 million. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The firm's revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. On average, equities research analysts anticipate that Ligand Pharmaceuticals will post 4.89 earnings per share for the current year.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Jason Haas sold 6,461 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $255.58, for a total value of $1,651,302.38. Following the sale, the director owned 4,981 shares in the company, valued at approximately $1,273,043.98. This represents a 56.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen L. Sabba sold 2,145 shares of Ligand Pharmaceuticals stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $254.00, for a total value of $544,830.00. Following the transaction, the director owned 33,629 shares of the company's stock, valued at $8,541,766. The trade was a 6.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 33,197 shares of company stock worth $8,744,572. 5.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Hedge funds have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC lifted its position in Ligand Pharmaceuticals by 86.3% during the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company's stock valued at $26,000 after purchasing an additional 69 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at about $31,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Ligand Pharmaceuticals during the 2nd quarter valued at approximately $75,000. JPL Wealth Management LLC purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter worth approximately $52,000. Finally, IFP Advisors Inc raised its stake in Ligand Pharmaceuticals by 1,040.0% during the 4th quarter. IFP Advisors Inc now owns 342 shares of the biotechnology company's stock worth $65,000 after acquiring an additional 312 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

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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