Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has been assigned an average rating of "Hold" from the ten ratings firms that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $170.00.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Ligand Pharmaceuticals from a "strong-buy" rating to a "hold" rating and set a $131.00 target price on the stock. in a research note on Tuesday, July 7th. HC Wainwright reissued a "buy" rating and set a $229.00 price objective on shares of Ligand Pharmaceuticals in a research note on Tuesday, August 11th. Benchmark boosted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $155.00 and gave the stock a "buy" rating in a research note on Tuesday, July 14th. Cantor Fitzgerald lowered shares of Ligand Pharmaceuticals from an "overweight" rating to a "neutral" rating in a research note on Friday, August 14th. Finally, Barclays boosted their price objective on shares of Ligand Pharmaceuticals from $134.00 to $145.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 4th.
In other Ligand Pharmaceuticals news, COO Matthew W. Foehr sold 7,225 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $112.88, for a total value of $815,558.00. Following the completion of the transaction, the chief operating officer now directly owns 155,413 shares of the company's stock, valued at $17,543,019.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 10.20% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Wasatch Advisors Inc. boosted its position in shares of Ligand Pharmaceuticals by 40.8% in the second quarter. Wasatch Advisors Inc. now owns 971,423 shares of the biotechnology company's stock worth $108,654,000 after purchasing an additional 281,568 shares during the period. Chicago Capital LLC bought a new position in shares of Ligand Pharmaceuticals during the second quarter worth $30,061,000. Granite Investment Partners LLC boosted its position in shares of Ligand Pharmaceuticals by 468.7% during the second quarter. Granite Investment Partners LLC now owns 200,406 shares of the biotechnology company's stock worth $22,415,000 after acquiring an additional 165,169 shares during the last quarter. Stonepine Capital Management LLC bought a new position in shares of Ligand Pharmaceuticals during the first quarter worth $11,702,000. Finally, Redwood Investments LLC bought a new position in shares of Ligand Pharmaceuticals during the second quarter worth $12,381,000.
LGND opened at $95.99 on Wednesday. The company has a debt-to-equity ratio of 0.65, a current ratio of 29.51 and a quick ratio of 29.38. Ligand Pharmaceuticals has a fifty-two week low of $57.24 and a fifty-two week high of $127.80. The firm has a market capitalization of $1.54 billion, a PE ratio of -69.56, a P/E/G ratio of 2.27 and a beta of 1.45. The company's 50-day moving average is $110.09 and its 200 day moving average is $102.97.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Monday, August 3rd. The biotechnology company reported $1.00 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.76 by $0.24. Ligand Pharmaceuticals had a negative net margin of 19.51% and a positive return on equity of 4.41%. The firm had revenue of $41.40 million during the quarter, compared to analyst estimates of $29.96 million. During the same quarter last year, the business posted $0.68 EPS. The company's revenue for the quarter was up 65.6% on a year-over-year basis. As a group, analysts expect that Ligand Pharmaceuticals will post 2.99 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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