Ligand Pharmaceuticals (NASDAQ:LGND) Price Target Raised to $231.00

Ligand Pharmaceuticals (NASDAQ:LGND) had its price target boosted by HC Wainwright from $206.00 to $231.00 in a research report report published on Thursday,Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other analysts have also commented on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, October 8th. Oppenheimer increased their target price on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Benchmark raised their price target on Ligand Pharmaceuticals from $160.00 to $175.00 and gave the stock a “buy” rating in a research report on Tuesday, September 2nd. Wall Street Zen raised Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Finally, Royal Bank Of Canada increased their price objective on Ligand Pharmaceuticals from $155.00 to $185.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Six equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $198.17.

Ligand Pharmaceuticals Stock Down 2.8%

Shares of LGND stock opened at $202.48 on Thursday. The stock has a market cap of $3.97 billion, a P/E ratio of -50.62 and a beta of 0.91. Ligand Pharmaceuticals has a fifty-two week low of $93.58 and a fifty-two week high of $211.91. The business has a fifty day simple moving average of $177.98 and a 200-day simple moving average of $141.89.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Thursday, November 6th. The biotechnology company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $1.13. Ligand Pharmaceuticals had a negative net margin of 40.44% and a negative return on equity of 9.21%. The firm had revenue of $86.89 million for the quarter, compared to analysts’ expectations of $58.71 million. During the same period in the prior year, the company earned $1.84 EPS. The firm’s revenue was up 123.0% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. On average, sell-side analysts anticipate that Ligand Pharmaceuticals will post 1.73 earnings per share for the current year.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, Director John W. Kozarich sold 467 shares of the firm’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $191.05, for a total transaction of $89,220.35. Following the sale, the director owned 44,588 shares in the company, valued at $8,518,537.40. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jason Aryeh sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $170.81, for a total value of $1,708,100.00. Following the completion of the transaction, the director owned 69,289 shares of the company’s stock, valued at $11,835,254.09. The trade was a 12.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 11,401 shares of company stock worth $1,956,894 in the last 90 days. Insiders own 7.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of LGND. Principal Financial Group Inc. grew its holdings in Ligand Pharmaceuticals by 3.3% in the first quarter. Principal Financial Group Inc. now owns 102,874 shares of the biotechnology company’s stock valued at $10,816,000 after purchasing an additional 3,284 shares during the period. Arizona State Retirement System boosted its holdings in shares of Ligand Pharmaceuticals by 2.1% in the 1st quarter. Arizona State Retirement System now owns 5,407 shares of the biotechnology company’s stock valued at $568,000 after purchasing an additional 110 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Ligand Pharmaceuticals by 7.7% during the 1st quarter. New York State Common Retirement Fund now owns 99,537 shares of the biotechnology company’s stock valued at $10,465,000 after buying an additional 7,119 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Ligand Pharmaceuticals by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 277,791 shares of the biotechnology company’s stock valued at $29,207,000 after buying an additional 1,060 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Ligand Pharmaceuticals by 94.6% during the 1st quarter. Victory Capital Management Inc. now owns 27,678 shares of the biotechnology company’s stock worth $2,910,000 after buying an additional 13,456 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.