Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Given Average Rating of “Moderate Buy” by Analysts

by · The Cerbat Gem

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Free Report) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $206.3333.

Several brokerages have commented on LGND. Oppenheimer raised their target price on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Weiss Ratings reissued a “hold (c)” rating on shares of Ligand Pharmaceuticals in a report on Monday, December 1st. HC Wainwright boosted their price objective on shares of Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada upped their target price on shares of Ligand Pharmaceuticals from $185.00 to $234.00 and gave the stock an “outperform” rating in a report on Monday, November 10th. Finally, Benchmark increased their target price on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, November 7th.

Get Our Latest Stock Analysis on LGND

Insiders Place Their Bets

In related news, Director Jason Aryeh sold 10,000 shares of Ligand Pharmaceuticals stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $170.81, for a total transaction of $1,708,100.00. Following the completion of the sale, the director owned 69,289 shares of the company’s stock, valued at approximately $11,835,254.09. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Kozarich sold 467 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $195.84, for a total value of $91,457.28. Following the transaction, the director owned 44,121 shares of the company’s stock, valued at approximately $8,640,656.64. The trade was a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 11,401 shares of company stock worth $1,972,576 in the last quarter. 7.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Salomon & Ludwin LLC bought a new position in shares of Ligand Pharmaceuticals in the 3rd quarter worth $26,000. CIBC Private Wealth Group LLC lifted its holdings in shares of Ligand Pharmaceuticals by 86.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 69 shares during the last quarter. Maseco LLP purchased a new position in Ligand Pharmaceuticals in the second quarter worth $31,000. Richardson Financial Services Inc. increased its stake in Ligand Pharmaceuticals by 85.8% in the third quarter. Richardson Financial Services Inc. now owns 210 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 97 shares during the last quarter. Finally, First Horizon Corp bought a new position in Ligand Pharmaceuticals in the third quarter valued at $47,000. 91.28% of the stock is currently owned by institutional investors.

Ligand Pharmaceuticals Stock Down 0.1%

LGND opened at $184.67 on Tuesday. Ligand Pharmaceuticals has a 12 month low of $93.58 and a 12 month high of $212.49. The company has a market cap of $3.63 billion, a PE ratio of 89.21 and a beta of 0.99. The company has a current ratio of 24.69, a quick ratio of 24.30 and a debt-to-equity ratio of 0.47. The company has a 50 day moving average of $191.93 and a 200 day moving average of $156.09.

Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last issued its earnings results on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $1.13. Ligand Pharmaceuticals had a net margin of 19.34% and a return on equity of 5.71%. The business had revenue of $86.89 million for the quarter, compared to analysts’ expectations of $58.71 million. During the same quarter in the previous year, the firm posted $1.84 EPS. The business’s revenue for the quarter was up 123.0% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. On average, sell-side analysts expect that Ligand Pharmaceuticals will post 1.73 EPS for the current year.

Ligand Pharmaceuticals Company Profile

(Get Free Report)

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.

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