Shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) have been given a consensus recommendation of “Hold” by the eleven analysts that are currently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $241.50.

Several brokerages have recently issued reports on LGND. BidaskClub cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Friday. HC Wainwright increased their price objective on Ligand Pharmaceuticals from $270.00 to $280.00 and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Craig Hallum increased their price objective on Ligand Pharmaceuticals from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. ValuEngine cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Finally, Stephens reiterated a “buy” rating and issued a $248.00 price objective on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 8th.

In other news, Director John W. Kozarich sold 2,500 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $275.04, for a total value of $687,600.00. Following the sale, the director now directly owns 26,142 shares in the company, valued at $7,190,095.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Charles S. Berkman sold 19,417 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $254.99, for a total value of $4,951,140.83. Following the completion of the sale, the senior vice president now owns 28,232 shares in the company, valued at $7,198,877.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,922 shares of company stock worth $30,297,452. Insiders own 7.80% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Ligand Pharmaceuticals by 8.3% in the second quarter. BlackRock Inc. now owns 3,264,974 shares of the biotechnology company’s stock valued at $676,405,000 after buying an additional 251,145 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Ligand Pharmaceuticals by 14,496.1% in the first quarter. Summit Trail Advisors LLC now owns 1,948,730 shares of the biotechnology company’s stock valued at $1,949,000 after buying an additional 1,935,379 shares in the last quarter. Janus Henderson Group PLC raised its stake in Ligand Pharmaceuticals by 6.3% in the second quarter. Janus Henderson Group PLC now owns 927,101 shares of the biotechnology company’s stock valued at $192,068,000 after buying an additional 54,990 shares in the last quarter. Victory Capital Management Inc. raised its stake in Ligand Pharmaceuticals by 5.3% in the second quarter. Victory Capital Management Inc. now owns 537,355 shares of the biotechnology company’s stock valued at $111,324,000 after buying an additional 27,075 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in Ligand Pharmaceuticals by 43.7% in the second quarter. Renaissance Technologies LLC now owns 523,494 shares of the biotechnology company’s stock valued at $108,452,000 after buying an additional 159,100 shares in the last quarter.

Shares of LGND traded down $9.54 during midday trading on Wednesday, hitting $187.52. 802,999 shares of the stock were exchanged, compared to its average volume of 628,993. Ligand Pharmaceuticals has a 52-week low of $126.50 and a 52-week high of $278.62. The firm has a market cap of $4.16 billion, a P/E ratio of 72.96, a P/E/G ratio of 1.73 and a beta of 1.06. The company has a quick ratio of 2.32, a current ratio of 2.34 and a debt-to-equity ratio of 0.96.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Monday, August 6th. The biotechnology company reported $2.59 EPS for the quarter, topping the consensus estimate of $2.34 by $0.25. Ligand Pharmaceuticals had a return on equity of 25.95% and a net margin of 52.10%. The business had revenue of $90.00 million during the quarter, compared to analyst estimates of $82.20 million. During the same period last year, the business posted $0.67 earnings per share. The company’s quarterly revenue was up 221.4% on a year-over-year basis. Sell-side analysts expect that Ligand Pharmaceuticals will post 5.71 earnings per share 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; 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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Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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