Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Stock Has Average Target Price of $337.89 According to Brokerages

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has been assigned an average rating of “Buy” from the ten analysts that are currently covering the firm, Marketbeat reports. Ten equities research analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $337.89.

Several analysts have recently commented on the stock. Barclays assumed coverage on shares of Ligand Pharmaceuticals in a research report on Friday, September 25th. They issued an “overweight” rating and a $345.00 price target on the stock. Royal Bank Of Canada lifted their price objective on Ligand Pharmaceuticals from $340.00 to $345.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. Citigroup upped their target price on Ligand Pharmaceuticals from $390.00 to $397.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Weiss Ratings upgraded Ligand Pharmaceuticals from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, September 21st. Finally, HC Wainwright reissued a “buy” rating and set a $358.00 price target on shares of Ligand Pharmaceuticals in a research report on Thursday, September 24th.

Ligand Pharmaceuticals Trading Up 0.6%

NASDAQ:LGND opened at $312.37 on Monday. Ligand Pharmaceuticals has a 52-week low of $175.56 and a 52-week high of $326.63. The company has a quick ratio of 30.96, a current ratio of 31.18 and a debt-to-equity ratio of 1.16. The stock has a fifty day simple moving average of $291.38 and a 200-day simple moving average of $260.74. The company has a market capitalization of $6.23 billion, a PE ratio of 33.41, a price-to-earnings-growth ratio of 2.51 and a beta of 1.11.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.40. The firm had revenue of $63.69 million for 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 period 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 expect that Ligand Pharmaceuticals will post 5.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Martine Zimmermann sold 1,200 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $285.00, for a total value of $342,000.00. Following the completion of the transaction, the director owned 3,897 shares of the company’s stock, valued at approximately $1,110,645. The trade was a 23.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Andrew Reardon sold 5,000 shares of the business’s stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $286.09, for a total transaction of $1,430,450.00. Following the completion of the transaction, the insider directly owned 36,514 shares of the company’s stock, valued at $10,446,290.26. The trade was a 12.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 49,979 shares of company stock valued at $14,548,548 over the last three months. Insiders own 5.60% of the company’s stock.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Several hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position in shares of Ligand Pharmaceuticals by 5.7% in the second quarter. GAMMA Investing LLC now owns 681 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 37 shares during the last quarter. Cim Investment Management Inc. lifted its stake in shares of Ligand Pharmaceuticals by 3.4% during the first quarter. Cim Investment Management Inc. now owns 1,484 shares of the biotechnology company’s stock valued at $296,000 after buying an additional 49 shares during the period. BTG Pactual Asset Management US LLC boosted its position in Ligand Pharmaceuticals by 7.1% during the second quarter. BTG Pactual Asset Management US LLC now owns 1,123 shares of the biotechnology company’s stock worth $355,000 after acquiring an additional 74 shares during the last quarter. 1492 Capital Management LLC boosted its position in Ligand Pharmaceuticals by 4.4% during the first quarter. 1492 Capital Management LLC now owns 1,958 shares of the biotechnology company’s stock worth $391,000 after acquiring an additional 82 shares during the last quarter. Finally, Integrated Wealth Concepts LLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth approximately $27,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated is a biopharmaceutical company that develops and licenses technologies and drug assets to pharmaceutical and biotechnology partners. Rather than operating primarily as a traditional commercial drug manufacturer, Ligand focuses on building a portfolio of royalty agreements, licensing arrangements and other partnerships that can generate payments when partnered products are developed, approved and sold.

The company’s best-known technology is Captisol, a chemically modified cyclodextrin designed to improve the solubility, stability and delivery of certain drug compounds.