Ligand Pharmaceuticals’ (LGND) Buy Rating Reiterated at HC Wainwright

HC Wainwright reiterated their buy rating on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a report issued on Wednesday morning,Benzinga reports. HC Wainwright also issued estimates for Ligand Pharmaceuticals’ FY2025 earnings at $3.46 EPS.

Several other analysts have also issued reports on LGND. Barclays upped their target price on shares of Ligand Pharmaceuticals from $125.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Oppenheimer upped their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Benchmark lifted their target price on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada upped their target price on Ligand Pharmaceuticals from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $145.33.

Ligand Pharmaceuticals Stock Up 3.0 %

LGND stock opened at $116.91 on Wednesday. The firm has a market capitalization of $2.21 billion, a PE ratio of 46.58 and a beta of 1.01. Ligand Pharmaceuticals has a twelve month low of $65.84 and a twelve month high of $129.90. The stock’s 50 day moving average is $114.00 and its 200-day moving average is $102.09.

Insider Transactions at Ligand Pharmaceuticals

In other news, Director John L. Lamattina sold 2,406 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the transaction, the director now owns 29,515 shares in the company, valued at approximately $3,649,529.75. This represents a 7.54 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Andrew Reardon sold 2,000 shares of Ligand Pharmaceuticals 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 sale, the insider now directly owns 22,534 shares of the company’s stock, valued at approximately $2,244,386.40. This trade represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,728 shares of company stock worth $2,271,575 in the last quarter. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Ligand Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at approximately $31,000. Rothschild Investment LLC purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter worth $34,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Ligand Pharmaceuticals by 23.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 125 shares during the period. Headlands Technologies LLC grew its position in shares of Ligand Pharmaceuticals by 21.7% in the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 135 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $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.