Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Given Average Recommendation of “Buy” by Analysts

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) have received a consensus recommendation of “Buy” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $177.17.

Several research firms have weighed in on LGND. Barclays decreased their price target on shares of Ligand Pharmaceuticals from $185.00 to $165.00 and set an “overweight” rating for the company in a research note on Friday, February 18th. StockNews.com downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday, May 6th. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating and set a $108.00 price target for the company in a research note on Wednesday, April 20th. Benchmark decreased their price target on shares of Ligand Pharmaceuticals from $180.00 to $130.00 and set a “buy” rating for the company in a research note on Tuesday, February 22nd. Finally, Craig Hallum decreased their target price on shares of Ligand Pharmaceuticals from $215.00 to $160.00 in a research report on Thursday, May 5th.

LGND stock traded up $5.54 during midday trading on Friday, hitting $85.96. The stock had a trading volume of 168,745 shares, compared to its average volume of 151,471. The firm has a market cap of $1.45 billion, a P/E ratio of 62.29, a price-to-earnings-growth ratio of 3.97 and a beta of 1.22. The company has a current ratio of 6.48, a quick ratio of 5.88 and a debt-to-equity ratio of 0.22. Ligand Pharmaceuticals has a 1-year low of $77.80 and a 1-year high of $169.98. The business has a fifty day moving average price of $103.05 and a two-hundred day moving average price of $125.36.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Rating) last released its earnings results on Wednesday, May 4th. The biotechnology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.10. Ligand Pharmaceuticals had a net margin of 9.00% and a return on equity of 8.29%. The business had revenue of $45.70 million for the quarter, compared to analyst estimates of $34.21 million. During the same quarter in the previous year, the business earned $1.03 earnings per share. Ligand Pharmaceuticals’s revenue for the quarter was down 17.2% on a year-over-year basis. On average, equities analysts anticipate that Ligand Pharmaceuticals will post 0.55 EPS for the current year.

In other news, COO Matthew W. Foehr acquired 2,500 shares of Ligand Pharmaceuticals stock in a transaction on Friday, May 13th. The stock was acquired at an average cost of $82.76 per share, with a total value of $206,900.00. Following the transaction, the chief operating officer now owns 173,354 shares of the company’s stock, valued at approximately $14,346,777.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John W. Kozarich sold 908 shares of the company’s stock in a transaction dated Monday, February 28th. The stock was sold at an average price of $102.62, for a total transaction of $93,178.96. The disclosure for this sale can be found here. Insiders own 10.60% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Cardinal Capital Management LLC CT purchased a new position in Ligand Pharmaceuticals in the third quarter valued at about $29,215,000. William Blair Investment Management LLC boosted its stake in Ligand Pharmaceuticals by 10.4% in the third quarter. William Blair Investment Management LLC now owns 1,375,941 shares of the biotechnology company’s stock valued at $191,696,000 after acquiring an additional 129,489 shares during the last quarter. Norges Bank purchased a new position in Ligand Pharmaceuticals in the fourth quarter valued at about $18,915,000. Principal Financial Group Inc. lifted its stake in shares of Ligand Pharmaceuticals by 50.9% during the 3rd quarter. Principal Financial Group Inc. now owns 165,711 shares of the biotechnology company’s stock valued at $23,087,000 after buying an additional 55,913 shares in the last quarter. Finally, Chicago Capital LLC lifted its stake in shares of Ligand Pharmaceuticals by 12.7% during the 1st quarter. Chicago Capital LLC now owns 491,717 shares of the biotechnology company’s stock valued at $55,313,000 after buying an additional 55,261 shares in the last quarter. 96.61% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Company Profile (Get Rating)

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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