Ligand Pharmaceuticals (NASDAQ:LGND) received a $169.00 price objective from equities researchers at HC Wainwright in a research report issued to clients and investors on Wednesday, January 3rd. The brokerage presently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price objective suggests a potential upside of 1.75% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Roth Capital reiterated a “buy” rating and issued a $158.00 target price (up previously from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. Craig Hallum restated a “buy” rating and set a $170.00 price objective (up previously from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. Finally, Deutsche Bank downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $150.83.

Shares of Ligand Pharmaceuticals (NASDAQ LGND) opened at $166.10 on Wednesday. The firm has a market cap of $3,500.13, a PE ratio of 124.69, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals has a fifty-two week low of $95.08 and a fifty-two week high of $170.30.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.32. The business had revenue of $33.38 million for the quarter, compared to analysts’ expectations of $31.04 million. Ligand Pharmaceuticals had a net margin of 12.76% and a return on equity of 7.83%. The business’s revenue was up 54.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.62 earnings per share. equities analysts expect that Ligand Pharmaceuticals will post 3.15 EPS for the current year.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 5,269 shares of the stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $142.53, for a total value of $750,990.57. Following the transaction, the chief executive officer now directly owns 143,542 shares in the company, valued at $20,459,041.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Matthew E. Korenberg sold 6,559 shares of the stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $142.63, for a total transaction of $935,510.17. Following the completion of the transaction, the vice president now owns 8,147 shares in the company, valued at $1,162,006.61. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 70,852 shares of company stock worth $10,915,823. 8.30% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. 361 Capital LLC purchased a new stake in shares of Ligand Pharmaceuticals in the third quarter worth $2,099,000. Janus Henderson Group PLC increased its stake in shares of Ligand Pharmaceuticals by 26.7% in the third quarter. Janus Henderson Group PLC now owns 754,692 shares of the biotechnology company’s stock worth $102,751,000 after purchasing an additional 159,201 shares in the last quarter. Round Table Services LLC purchased a new stake in shares of Ligand Pharmaceuticals in the third quarter worth $205,000. Schwab Charles Investment Management Inc. increased its stake in shares of Ligand Pharmaceuticals by 15.4% in the third quarter. Schwab Charles Investment Management Inc. now owns 127,792 shares of the biotechnology company’s stock worth $17,399,000 after purchasing an additional 17,071 shares in the last quarter. Finally, Prudential Financial Inc. increased its stake in shares of Ligand Pharmaceuticals by 48.7% in the third quarter. Prudential Financial Inc. now owns 72,150 shares of the biotechnology company’s stock worth $9,823,000 after purchasing an additional 23,643 shares in the last quarter.

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About Ligand Pharmaceuticals

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.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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