Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Free Report) has been assigned a consensus rating of “Buy” from the five analysts that are covering the stock, MarketBeat reports. Five analysts have rated the stock with a buy rating. The average 1 year price objective among analysts that have covered the stock in the last year is $131.80.
A number of research analysts have recently issued reports on LGND shares. HC Wainwright reaffirmed a “buy” rating and issued a $144.00 price objective on shares of Ligand Pharmaceuticals in a research report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 price objective on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. Craig Hallum lifted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Benchmark lifted their price objective on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Oppenheimer began coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, October 3rd. They set an “outperform” rating and a $135.00 target price on the stock.
Read Our Latest Analysis on Ligand Pharmaceuticals
Insiders Place Their Bets
Institutional Trading of Ligand Pharmaceuticals
Institutional investors and hedge funds have recently bought and sold shares of the business. Innealta Capital LLC acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $31,000. Rothschild Investment LLC acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $34,000. Headlands Technologies LLC lifted its stake in shares of Ligand Pharmaceuticals by 21.7% in the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 135 shares during the period. Benjamin F. Edwards & Company Inc. acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $67,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals in the 4th quarter valued at $107,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Ligand Pharmaceuticals Stock Performance
NASDAQ LGND opened at $102.62 on Thursday. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 19.85 and a beta of 1.00. The company’s 50-day simple moving average is $102.53 and its two-hundred day simple moving average is $89.78. Ligand Pharmaceuticals has a one year low of $49.24 and a one year high of $112.13.
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.34. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. The firm had revenue of $41.50 million for the quarter, compared to the consensus estimate of $33.04 million. During the same quarter in the previous year, the firm earned $1.10 EPS. The company’s quarterly revenue was up 57.2% compared to the same quarter last year. Equities analysts expect that Ligand Pharmaceuticals will post 3.54 earnings per share for the current fiscal year.
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.
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