HC Wainwright Analysts Give Ligand Pharmaceuticals (LGND) a $281.00 Price Target

HC Wainwright set a $281.00 price objective on Ligand Pharmaceuticals (NASDAQ:LGND) in a research report sent to investors on Monday. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other research firms also recently weighed in on LGND. BidaskClub downgraded Ligand Pharmaceuticals from a sell rating to a strong sell rating in a research report on Saturday, October 27th. Argus set a $300.00 price target on Ligand Pharmaceuticals and gave the stock a buy rating in a research report on Tuesday, September 11th. They noted that the move was a valuation call. Roth Capital raised Ligand Pharmaceuticals from a neutral rating to a buy rating and reduced their price target for the stock from $250.00 to $195.00 in a research report on Monday, October 29th. Zacks Investment Research raised Ligand Pharmaceuticals from a sell rating to a hold rating in a research report on Thursday, November 15th. Finally, Goldman Sachs Group initiated coverage on Ligand Pharmaceuticals in a research report on Friday, August 17th. They set a neutral rating and a $256.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $244.43.

NASDAQ LGND opened at $151.48 on Monday. Ligand Pharmaceuticals has a 52-week low of $126.50 and a 52-week high of $278.62. The company has a debt-to-equity ratio of 0.86, a current ratio of 2.20 and a quick ratio of 2.19. The company has a market cap of $3.16 billion, a P/E ratio of 58.94, a price-to-earnings-growth ratio of 1.26 and a beta of 1.52.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Thursday, November 8th. The biotechnology company reported $1.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.29. Ligand Pharmaceuticals had a return on equity of 26.17% and a net margin of 73.78%. The business had revenue of $45.66 million during the quarter, compared to analysts’ expectations of $41.99 million. During the same period in the prior year, the business earned $0.69 EPS. Ligand Pharmaceuticals’s revenue for the quarter was up 36.8% compared to the same quarter last year. As a group, sell-side analysts expect that Ligand Pharmaceuticals will post 5.91 earnings per share for the current year.

In other news, SVP Charles S. Berkman sold 19,417 shares of the stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $254.99, for a total value of $4,951,140.83. Following the completion of the sale, the senior vice president now owns 28,232 shares of the company’s stock, valued at approximately $7,198,877.68. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Todd C. Davis sold 2,500 shares of the stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $253.99, for a total value of $634,975.00. Following the completion of the sale, the director now directly owns 42,556 shares of the company’s stock, valued at approximately $10,808,798.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,422 shares of company stock valued at $19,791,812. Insiders own 7.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zacks Investment Management acquired a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at approximately $1,852,000. Macquarie Group Ltd. boosted its holdings in shares of Ligand Pharmaceuticals by 2.6% in the 2nd quarter. Macquarie Group Ltd. now owns 397,113 shares of the biotechnology company’s stock valued at $82,270,000 after buying an additional 9,970 shares during the last quarter. Federated Investors Inc. PA boosted its holdings in shares of Ligand Pharmaceuticals by 293.4% in the 2nd quarter. Federated Investors Inc. PA now owns 65,639 shares of the biotechnology company’s stock valued at $13,598,000 after buying an additional 48,953 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in shares of Ligand Pharmaceuticals by 1.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 135,871 shares of the biotechnology company’s stock valued at $28,149,000 after buying an additional 1,558 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in shares of Ligand Pharmaceuticals by 8.3% in the 2nd quarter. BlackRock Inc. now owns 3,264,974 shares of the biotechnology company’s stock valued at $676,405,000 after buying an additional 251,145 shares during the last quarter.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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