Investment Analysts’ Recent Ratings Updates for Ligand Pharmaceuticals (LGND)

A number of firms have modified their ratings and price targets on shares of Ligand Pharmaceuticals (NASDAQ: LGND) recently:

  • 8/5/2019 – Ligand Pharmaceuticals had its price target lowered by analysts at Barclays PLC from $131.00 to $110.00. They now have an “equal weight” rating on the stock.
  • 8/2/2019 – Ligand Pharmaceuticals was downgraded by analysts at BidaskClub from a “sell” rating to a “strong sell” rating.
  • 7/24/2019 – Ligand Pharmaceuticals was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 7/23/2019 – Ligand Pharmaceuticals was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/17/2019 – Ligand Pharmaceuticals was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 7/8/2019 – Ligand Pharmaceuticals was upgraded by analysts at ValuEngine from a “hold” rating to a “buy” rating.
  • 6/12/2019 – Ligand Pharmaceuticals was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 6/11/2019 – Ligand Pharmaceuticals is now covered by analysts at Barclays PLC. They set an “equal weight” rating and a $131.00 price target on the stock.
  • 6/10/2019 – Ligand Pharmaceuticals was given a new $140.00 price target on by analysts at Argus. They now have a “buy” rating on the stock.

Ligand Pharmaceuticals stock traded up $2.15 during mid-day trading on Tuesday, reaching $91.66. The company had a trading volume of 288,497 shares, compared to its average volume of 519,493. Ligand Pharmaceuticals Inc. has a fifty-two week low of $88.23 and a fifty-two week high of $278.62. The company has a debt-to-equity ratio of 0.60, a quick ratio of 13.15 and a current ratio of 13.23. The firm has a market cap of $1.79 billion, a P/E ratio of 14.60, a P/E/G ratio of 2.03 and a beta of 1.30. The company has a fifty day moving average of $110.89.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.30. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. The firm had revenue of $24.99 million for the quarter, compared to analyst estimates of $21.01 million. During the same quarter last year, the business posted $2.59 earnings per share. The company’s quarterly revenue was down 72.2% on a year-over-year basis. Sell-side analysts predict that Ligand Pharmaceuticals Inc. will post 2.34 earnings per share for the current fiscal year.

In other Ligand Pharmaceuticals news, Director Jason Aryeh purchased 746 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was purchased at an average price of $90.01 per share, with a total value of $67,147.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John L. Higgins purchased 1,850 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were acquired at an average cost of $95.45 per share, with a total value of $176,582.50. Following the purchase, the chief executive officer now directly owns 146,749 shares of the company’s stock, valued at approximately $14,007,192.05. The disclosure for this purchase can be found here. Insiders have bought 12,350 shares of company stock valued at $1,267,384 in the last ninety days. Insiders own 8.40% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in LGND. Janus Henderson Group PLC raised its stake in Ligand Pharmaceuticals by 11.4% during the second quarter. Janus Henderson Group PLC now owns 1,542,670 shares of the biotechnology company’s stock worth $176,096,000 after buying an additional 157,604 shares during the last quarter. Victory Capital Management Inc. raised its stake in Ligand Pharmaceuticals by 39.6% during the first quarter. Victory Capital Management Inc. now owns 655,690 shares of the biotechnology company’s stock worth $82,428,000 after buying an additional 186,090 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in Ligand Pharmaceuticals by 2.5% during the second quarter. Conestoga Capital Advisors LLC now owns 636,699 shares of the biotechnology company’s stock worth $72,679,000 after buying an additional 15,693 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Ligand Pharmaceuticals by 37.7% during the first quarter. The Manufacturers Life Insurance Company now owns 557,512 shares of the biotechnology company’s stock worth $70,085,000 after buying an additional 152,649 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its stake in Ligand Pharmaceuticals by 3.9% during the second quarter. Stephens Investment Management Group LLC now owns 442,187 shares of the biotechnology company’s stock worth $50,476,000 after buying an additional 16,543 shares during the last quarter.

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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