Ligand Pharmaceuticals (NASDAQ:LGND) PT Raised to $157.00 at HC Wainwright

Ligand Pharmaceuticals (NASDAQ:LGND) had its price target hoisted by HC Wainwright from $144.00 to $157.00 in a research report released on Monday, Benzinga reports. HC Wainwright currently has a buy rating on the biotechnology company’s stock.

Several other research analysts have also commented on LGND. Benchmark lifted their price target on Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Oppenheimer began coverage on shares of Ligand Pharmaceuticals in a report on Thursday, October 3rd. They issued an “outperform” rating and a $135.00 target price on the stock. Craig Hallum upped their price target on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals has an average rating of “Buy” and an average price target of $134.40.

Ligand Pharmaceuticals Trading Up 3.8 %

Shares of Ligand Pharmaceuticals stock opened at $110.99 on Monday. The company has a fifty day simple moving average of $103.53 and a 200-day simple moving average of $92.45. The stock has a market cap of $2.00 billion, a price-to-earnings ratio of 21.47 and a beta of 1.00. Ligand Pharmaceuticals has a 12-month low of $49.24 and a 12-month high of $112.13.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.34. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. The company had revenue of $41.50 million during the quarter, compared to the consensus estimate of $33.04 million. During the same quarter in the prior year, the firm posted $1.10 earnings per share. Ligand Pharmaceuticals’s revenue for the quarter was up 57.2% on a year-over-year basis. On average, analysts forecast that Ligand Pharmaceuticals will post 3.73 earnings per share for the current fiscal year.

Insider Transactions at Ligand Pharmaceuticals

In other news, CEO Todd C. Davis acquired 2,500 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were purchased at an average cost of $97.39 per share, for a total transaction of $243,475.00. Following the transaction, the chief executive officer now directly owns 123,010 shares in the company, valued at approximately $11,979,943.90. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, COO Matthew E. Korenberg sold 18,245 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $98.50, for a total transaction of $1,797,132.50. Following the completion of the transaction, the chief operating officer now directly owns 68,368 shares of the company’s stock, valued at $6,734,248. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Todd C. Davis acquired 2,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, August 8th. The stock was purchased at an average price of $97.39 per share, with a total value of $243,475.00. Following the transaction, the chief executive officer now owns 123,010 shares of the company’s stock, valued at $11,979,943.90. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 51,613 shares of company stock worth $5,255,692 over the last 90 days. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ligand Pharmaceuticals

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Ligand Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,884,112 shares of the biotechnology company’s stock valued at $137,729,000 after buying an additional 7,598 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Ligand Pharmaceuticals by 6.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company’s stock worth $59,707,000 after purchasing an additional 44,543 shares in the last quarter. Chicago Capital LLC grew its stake in shares of Ligand Pharmaceuticals by 6.0% during the 3rd quarter. Chicago Capital LLC now owns 545,821 shares of the biotechnology company’s stock worth $54,631,000 after purchasing an additional 30,875 shares during the period. Rice Hall James & Associates LLC grew its stake in shares of Ligand Pharmaceuticals by 4.5% during the 2nd quarter. Rice Hall James & Associates LLC now owns 292,475 shares of the biotechnology company’s stock worth $24,644,000 after purchasing an additional 12,691 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in shares of Ligand Pharmaceuticals by 7.2% in the 2nd quarter. William Blair Investment Management LLC now owns 202,842 shares of the biotechnology company’s stock valued at $17,091,000 after purchasing an additional 13,595 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

About Ligand Pharmaceuticals

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.