Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Free Report) have received a consensus rating of “Buy” from the four brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a buy recommendation. The average 12 month price target among brokerages that have covered the stock in the last year is $109.75.
A number of equities research analysts have issued reports on LGND shares. TheStreet downgraded Ligand Pharmaceuticals from a “b-” rating to a “c” rating in a research report on Tuesday. Barclays decreased their price objective on Ligand Pharmaceuticals from $120.00 to $110.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 25th. StockNews.com upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Finally, HC Wainwright restated a “buy” rating and set a $144.00 price objective on shares of Ligand Pharmaceuticals in a research report on Wednesday.
View Our Latest Research Report on LGND
Ligand Pharmaceuticals Trading Down 2.2 %
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last issued its quarterly earnings data on Tuesday, August 8th. The biotechnology company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.66. Ligand Pharmaceuticals had a return on equity of 6.82% and a net margin of 14.54%. The business had revenue of $26.37 million for the quarter, compared to the consensus estimate of $24.74 million. During the same period in the prior year, the business posted ($0.14) earnings per share. The company’s quarterly revenue was down 47.4% compared to the same quarter last year. On average, research analysts forecast that Ligand Pharmaceuticals will post 3.72 earnings per share for the current year.
Insider Transactions at Ligand Pharmaceuticals
In other news, Director John W. Kozarich sold 4,444 shares of the stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $77.20, for a total value of $343,076.80. Following the sale, the director now directly owns 38,488 shares in the company, valued at $2,971,273.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 10.40% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank acquired a new stake in Ligand Pharmaceuticals during the 4th quarter worth about $9,690,000. Chicago Capital LLC raised its position in Ligand Pharmaceuticals by 40.9% during the first quarter. Chicago Capital LLC now owns 449,508 shares of the biotechnology company’s stock valued at $33,066,000 after acquiring an additional 130,454 shares in the last quarter. Pacer Advisors Inc. acquired a new position in Ligand Pharmaceuticals in the fourth quarter valued at approximately $7,489,000. Ziegler Capital Management LLC purchased a new stake in Ligand Pharmaceuticals in the 1st quarter worth approximately $7,921,000. Finally, abrdn plc grew its stake in shares of Ligand Pharmaceuticals by 38.0% during the 2nd quarter. abrdn plc now owns 388,800 shares of the biotechnology company’s stock worth $28,032,000 after purchasing an additional 107,093 shares during the period. Institutional investors own 85.27% of the company’s stock.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; 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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