Ligand Pharmaceuticals (NASDAQ:LGND) Price Target Raised to $140.00 at Royal Bank of Canada

Ligand Pharmaceuticals (NASDAQ:LGND) had its price target hoisted by research analysts at Royal Bank of Canada from $130.00 to $140.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 13.39% from the stock’s previous close.

Other analysts also recently issued reports about the stock. HC Wainwright restated a “buy” rating and set a $157.00 price target on shares of Ligand Pharmaceuticals in a research report on Friday. Barclays upped their target price on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an “overweight” rating in a report on Friday. Oppenheimer boosted their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Benchmark raised their price objective on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $144.83.

Ligand Pharmaceuticals Stock Performance

Ligand Pharmaceuticals stock opened at $123.47 on Tuesday. Ligand Pharmaceuticals has a one year low of $55.02 and a one year high of $129.90. The company has a 50-day simple moving average of $105.93 and a 200-day simple moving average of $95.94. The firm has a market capitalization of $2.26 billion, a P/E ratio of 49.19 and a beta of 0.99.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 2,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $99.60, for a total value of $199,200.00. Following the completion of the transaction, the insider now directly owns 22,534 shares of the company’s stock, valued at approximately $2,244,386.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Andrew Reardon sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $99.60, for a total transaction of $199,200.00. Following the completion of the sale, the insider now owns 22,534 shares in the company, valued at $2,244,386.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Octavio Espinoza sold 1,275 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $103.94, for a total value of $132,523.50. Following the transaction, the chief financial officer now owns 24,610 shares in the company, valued at approximately $2,557,963.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 33,368 shares of company stock worth $3,458,560. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the business. Innealta Capital LLC acquired a new position in shares of Ligand Pharmaceuticals during the second quarter worth approximately $31,000. Rothschild Investment LLC purchased a new position in shares of Ligand Pharmaceuticals in the 2nd quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. grew its stake in Ligand Pharmaceuticals by 23.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 125 shares during the period. Headlands Technologies LLC raised its position in Ligand Pharmaceuticals by 21.7% in the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 135 shares during the period. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter worth approximately $67,000. Institutional investors own 91.28% of the company’s stock.

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.