Ligand Pharmaceuticals (NASDAQ:LGND) Rating Lowered to Sell at BidaskClub

BidaskClub cut shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a hold rating to a sell rating in a report released on Wednesday morning, BidAskClub reports.

A number of other analysts also recently issued reports on the stock. Argus set a $140.00 target price on shares of Ligand Pharmaceuticals and gave the stock a buy rating in a research report on Monday, June 10th. Barclays assumed coverage on shares of Ligand Pharmaceuticals in a research report on Tuesday, June 11th. They set an equal weight rating and a $131.00 target price for the company. HC Wainwright reissued a buy rating and set a $214.00 target price (down previously from $254.00) on shares of Ligand Pharmaceuticals in a research report on Friday, May 3rd. ValuEngine raised shares of Ligand Pharmaceuticals from a sell rating to a hold rating in a research report on Wednesday, May 1st. Finally, Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a buy rating to a strong sell rating in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $195.88.

LGND opened at $107.41 on Wednesday. The company has a market cap of $2.24 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 2.43 and a beta of 1.40. Ligand Pharmaceuticals has a 1 year low of $98.56 and a 1 year high of $278.62. The company has a debt-to-equity ratio of 0.57, a current ratio of 8.39 and a quick ratio of 8.33.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Thursday, May 2nd. The biotechnology company reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.28. The firm had revenue of $43.48 million during the quarter, compared to the consensus estimate of $38.28 million. Ligand Pharmaceuticals had a net margin of 320.12% and a return on equity of 19.21%. The company’s revenue was down 22.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.55 EPS. On average, analysts expect that Ligand Pharmaceuticals will post 2.34 earnings per share for the current year.

In other news, Director Jason Aryeh acquired 250 shares of the stock in a transaction on Tuesday, May 14th. The stock was bought at an average price of $112.51 per share, with a total value of $28,127.50. Following the completion of the transaction, the director now directly owns 59,368 shares of the company’s stock, valued at $6,679,493.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John L. Higgins acquired 2,500 shares of the stock in a transaction on Tuesday, May 14th. The stock was purchased at an average cost of $113.50 per share, with a total value of $283,750.00. Following the transaction, the chief executive officer now directly owns 28,042 shares of the company’s stock, valued at $3,182,767. The disclosure for this purchase can be found here. Insiders acquired 4,500 shares of company stock valued at $503,895 in the last ninety days. 7.80% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the business. Coastal Investment Advisors Inc. purchased a new position in shares of Ligand Pharmaceuticals during the 1st quarter valued at approximately $25,000. Manchester Capital Management LLC purchased a new position in shares of Ligand Pharmaceuticals during the 1st quarter valued at approximately $26,000. Rockefeller Capital Management L.P. boosted its stake in shares of Ligand Pharmaceuticals by 294.4% during the 1st quarter. Rockefeller Capital Management L.P. now owns 213 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 159 shares during the last quarter. Pearl River Capital LLC purchased a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at approximately $41,000. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of Ligand Pharmaceuticals by 64.4% during the 1st quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock valued at $43,000 after buying an additional 132 shares during the last quarter.

Ligand Pharmaceuticals Company Profile

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; Aziyo portfolio of 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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