Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Given Consensus Rating of “Buy” by Brokerages

Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) has received an average recommendation of “Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $170.43.

LGND has been the topic of several research analyst reports. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating and set a $108.00 price target on the stock in a research report on Wednesday, April 20th. Stephens reduced their target price on shares of Ligand Pharmaceuticals to $130.00 and set a “na” rating for the company in a report on Monday, May 16th. Benchmark reduced their target price on shares of Ligand Pharmaceuticals from $180.00 to $130.00 and set a “buy” rating for the company in a report on Tuesday, February 22nd. Craig Hallum decreased their price objective on shares of Ligand Pharmaceuticals from $215.00 to $160.00 in a research note on Thursday, May 5th. Finally, StockNews.com lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Monday.

Shares of NASDAQ:LGND opened at $88.91 on Wednesday. Ligand Pharmaceuticals has a 12 month low of $77.80 and a 12 month high of $169.98. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.48 and a quick ratio of 5.88. The business’s 50 day simple moving average is $97.88 and its 200-day simple moving average is $119.41. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 64.43, a price-to-earnings-growth ratio of 6.56 and a beta of 1.22.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). 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 during the quarter, compared to analyst estimates of $34.21 million. During the same quarter last year, the firm posted $1.03 earnings per share. The company’s revenue was down 17.2% on a year-over-year basis. On average, equities analysts anticipate that Ligand Pharmaceuticals will post 0.92 earnings per share for the current year.

In other news, COO Matthew W. Foehr bought 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were purchased at an average price of $82.76 per share, for a total transaction of $206,900.00. Following the acquisition, the chief operating officer now directly owns 173,354 shares of the company’s stock, valued at approximately $14,346,777.04. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 10.40% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Rockefeller Capital Management L.P. boosted its position in shares of Ligand Pharmaceuticals by 49.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 298 shares of the biotechnology company’s stock valued at $46,000 after acquiring an additional 98 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in Ligand Pharmaceuticals by 34.4% in the fourth quarter. Public Employees Retirement System of Ohio now owns 324 shares of the biotechnology company’s stock valued at $50,000 after buying an additional 83 shares in the last quarter. Harbor Investment Advisory LLC boosted its position in Ligand Pharmaceuticals by 18.2% in the first quarter. Harbor Investment Advisory LLC now owns 623 shares of the biotechnology company’s stock valued at $70,000 after buying an additional 96 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in Ligand Pharmaceuticals by 279.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 876 shares of the biotechnology company’s stock valued at $135,000 after buying an additional 645 shares in the last quarter. Finally, Advisor Group Holdings Inc. boosted its position in Ligand Pharmaceuticals by 10.6% in the first quarter. Advisor Group Holdings Inc. now owns 1,341 shares of the biotechnology company’s stock valued at $151,000 after buying an additional 128 shares in the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.

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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