ValuEngine upgraded shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) from a sell rating to a hold rating in a report released on Thursday morning.
LGND has been the subject of a number of other research reports. Stephens reiterated an overweight rating and set a $137.00 target price (up previously from $125.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 9th. TheStreet upgraded shares of Ligand Pharmaceuticals from a c rating to a b- rating in a research report on Monday, August 7th. Deutsche Bank AG increased their target price on shares of Ligand Pharmaceuticals from $103.00 to $104.00 and gave the stock a hold rating in a research report on Tuesday, August 8th. Roth Capital increased their target price on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the stock a buy rating in a research report on Tuesday, August 8th. Finally, BidaskClub lowered shares of Ligand Pharmaceuticals from a buy rating to a hold rating in a research report on Tuesday, August 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Ligand Pharmaceuticals has an average rating of Buy and an average price target of $133.71.
Ligand Pharmaceuticals (LGND) opened at 125.12 on Thursday. The stock has a 50 day moving average of $121.43 and a 200-day moving average of $111.81. The company has a market cap of $2.63 billion, a P/E ratio of 305.17 and a beta of 0.96. Ligand Pharmaceuticals has a 12 month low of $87.50 and a 12 month high of $129.94.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.42. The company had revenue of $28 million during the quarter, compared to analyst estimates of $24.40 million. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The firm’s revenue for the quarter was up 43.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.50 earnings per share. Equities research analysts expect that Ligand Pharmaceuticals will post $2.95 EPS for the current year.
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In related news, insider Matthew W. Foehr sold 6,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $127.51, for a total value of $777,811.00. Following the sale, the insider now directly owns 101,020 shares of the company’s stock, valued at $12,881,060.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Charles S. Berkman sold 18,625 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $126.96, for a total transaction of $2,364,630.00. Following the completion of the sale, the vice president now directly owns 24,423 shares in the company, valued at $3,100,744.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,874 shares of company stock worth $5,766,176. Insiders own 14.70% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Tyers Asset Management LLC increased its stake in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock worth $110,000 after buying an additional 196 shares in the last quarter. LS Investment Advisors LLC increased its stake in shares of Ligand Pharmaceuticals by 43.2% in the first quarter. LS Investment Advisors LLC now owns 1,197 shares of the biotechnology company’s stock worth $127,000 after buying an additional 361 shares in the last quarter. Flinton Capital Management LLC increased its stake in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Flinton Capital Management LLC now owns 1,258 shares of the biotechnology company’s stock worth $133,000 after buying an additional 238 shares in the last quarter. Strs Ohio increased its stake in shares of Ligand Pharmaceuticals by 225.0% in the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock worth $157,000 after buying an additional 900 shares in the last quarter. Finally, First Mercantile Trust Co. increased its stake in shares of Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after buying an additional 20 shares in the last quarter.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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