Ligand Pharmaceuticals Incorporated (LGND) PT Set at $157.00 by HC Wainwright
HC Wainwright set a $157.00 target price on Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in a research report sent to investors on Wednesday morning. The firm currently has a buy rating on the biotechnology company’s stock.
A number of other research analysts have also weighed in on the company. Zacks Investment Research raised Ligand Pharmaceuticals from a strong sell rating to a hold rating in a report on Tuesday, July 11th. BidaskClub lowered Ligand Pharmaceuticals from a strong-buy rating to a buy rating in a report on Wednesday, July 19th. Deutsche Bank AG reaffirmed a hold rating and set a $103.00 price objective (up previously from $100.00) on shares of Ligand Pharmaceuticals in a report on Monday, July 17th. ValuEngine raised Ligand Pharmaceuticals from a sell rating to a hold rating in a report on Thursday, June 22nd. Finally, Roth Capital reaffirmed a buy rating and set a $158.00 price objective (up previously from $135.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 11th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $144.20.
Shares of Ligand Pharmaceuticals (NASDAQ LGND) traded up 0.40% on Wednesday, hitting $143.93. The stock had a trading volume of 132,753 shares. Ligand Pharmaceuticals has a 12 month low of $87.50 and a 12 month high of $144.86. The firm has a 50 day moving average of $137.91 and a 200 day moving average of $122.00. The stock has a market cap of $3.03 billion, a P/E ratio of 351.05 and a beta of 1.01.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.42. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The firm had revenue of $28.00 million for the quarter, compared to analyst estimates of $24.40 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. Ligand Pharmaceuticals’s quarterly revenue was up 43.6% on a year-over-year basis. On average, equities analysts forecast that Ligand Pharmaceuticals will post $2.95 earnings per share for the current fiscal year.
In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 5,000 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $130.00, for a total transaction of $650,000.00. Following the sale, the chief executive officer now directly owns 144,171 shares in the company, valued at $18,742,230. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Jason Aryeh sold 2,000 shares of the business’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $127.99, for a total value of $255,980.00. Following the sale, the director now owns 59,625 shares in the company, valued at $7,631,403.75. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,208 shares of company stock worth $4,733,796. 14.70% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Strs Ohio boosted its position in Ligand Pharmaceuticals by 225.0% during the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock worth $157,000 after purchasing an additional 900 shares in the last quarter. First Mercantile Trust Co. boosted its position in Ligand Pharmaceuticals by 1.6% during the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after purchasing an additional 20 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Ligand Pharmaceuticals during the second quarter worth $203,000. Round Table Services LLC purchased a new stake in Ligand Pharmaceuticals during the third quarter worth $205,000. Finally, Riverhead Capital Management LLC boosted its position in Ligand Pharmaceuticals by 99.8% during the second quarter. Riverhead Capital Management LLC now owns 1,798 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 898 shares in the last quarter.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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