HC Wainwright Reiterates Buy Rating for Ligand Pharmaceuticals (NASDAQ:LGND)

HC Wainwright reiterated their buy rating on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a research report sent to investors on Thursday morning, AnalystRatings.com reports. They currently have a $214.00 price target on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the company. BidaskClub cut Ligand Pharmaceuticals from a sell rating to a strong sell rating in a research note on Thursday. Barclays raised Ligand Pharmaceuticals from an equal weight rating to an overweight rating and lifted their price objective for the company from $110.00 to $132.00 in a research note on Thursday, September 19th. Finally, ValuEngine cut Ligand Pharmaceuticals from a buy rating to a hold rating in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Ligand Pharmaceuticals has a consensus rating of Hold and an average price target of $152.20.

NASDAQ:LGND traded down $2.14 on Thursday, reaching $90.39. The company’s stock had a trading volume of 315,022 shares, compared to its average volume of 330,177. Ligand Pharmaceuticals has a 12-month low of $84.45 and a 12-month high of $130.50. The company has a quick ratio of 32.96, a current ratio of 33.15 and a debt-to-equity ratio of 0.75. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 1.54 and a beta of 1.23. The stock has a 50 day moving average price of $103.72 and a 200 day moving average price of $103.55.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Tuesday, November 5th. The biotechnology company reported $0.49 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.12). Ligand Pharmaceuticals had a net margin of 388.69% and a return on equity of 7.47%. The firm had revenue of $24.81 million during the quarter, compared to analyst estimates of $22.49 million. During the same period in the previous year, the firm posted $1.32 earnings per share. The company’s quarterly revenue was down 45.7% compared to the same quarter last year. Equities research analysts expect that Ligand Pharmaceuticals will post 2.08 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of Montreal Can raised its stake in shares of Ligand Pharmaceuticals by 137.9% during the 2nd quarter. Bank of Montreal Can now owns 2,398 shares of the biotechnology company’s stock worth $274,000 after buying an additional 1,390 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Ligand Pharmaceuticals by 188.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock worth $26,000 after buying an additional 149 shares in the last quarter. NumerixS Investment Technologies Inc purchased a new position in shares of Ligand Pharmaceuticals during the 2nd quarter worth approximately $68,000. Massmutual Trust Co. FSB ADV raised its stake in shares of Ligand Pharmaceuticals by 2,110.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,979 shares of the biotechnology company’s stock worth $454,000 after buying an additional 3,799 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in shares of Ligand Pharmaceuticals during the 2nd quarter worth approximately $2,315,000.

About Ligand Pharmaceuticals

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; Aziyo portfolio of 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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