Ligand Pharmaceuticals (NASDAQ:LGND) Earns “Buy” Rating from HC Wainwright

HC Wainwright reaffirmed their buy rating on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a research report report published on Tuesday, AnalystRatings.com reports. The firm currently has a $229.00 target price on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the stock. ValuEngine downgraded shares of Ligand Pharmaceuticals from a buy rating to a hold rating in a research note on Monday, May 11th. Roth Capital upped their price target on shares of Ligand Pharmaceuticals from $180.00 to $190.00 and gave the company a buy rating in a research note on Tuesday, August 4th. Zacks Investment Research downgraded shares of Ligand Pharmaceuticals from a strong-buy rating to a hold rating and set a $131.00 price target on the stock. in a research note on Tuesday, July 7th. BidaskClub downgraded shares of Ligand Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, August 8th. Finally, Barclays upped their price target on shares of Ligand Pharmaceuticals from $134.00 to $145.00 and gave the company an overweight rating in a research note on Tuesday, August 4th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Ligand Pharmaceuticals has a consensus rating of Hold and a consensus target price of $170.00.

Shares of NASDAQ:LGND traded down $0.26 during midday trading on Tuesday, reaching $112.94. 3,896 shares of the company were exchanged, compared to its average volume of 416,770. The company has a current ratio of 27.53, a quick ratio of 27.41 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average is $116.81 and its two-hundred day moving average is $101.04. Ligand Pharmaceuticals has a one year low of $57.24 and a one year high of $127.80. The stock has a market cap of $1.82 billion, a PE ratio of -81.25, a price-to-earnings-growth ratio of 2.62 and a beta of 1.62.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Monday, August 3rd. The biotechnology company reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.76 by $0.24. Ligand Pharmaceuticals had a negative net margin of 19.51% and a positive return on equity of 4.41%. The firm had revenue of $41.40 million during the quarter, compared to analyst estimates of $29.96 million. During the same quarter in the prior year, the business earned $0.68 earnings per share. Ligand Pharmaceuticals’s revenue for the quarter was up 65.6% on a year-over-year basis. As a group, sell-side analysts expect that Ligand Pharmaceuticals will post 2.99 EPS for the current year.

In other news, SVP Charles S. Berkman sold 11,146 shares of the stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $118.59, for a total value of $1,321,804.14. Following the sale, the senior vice president now owns 40,877 shares of the company’s stock, valued at $4,847,603.43. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 10.20% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new position in Ligand Pharmaceuticals in the 1st quarter worth about $450,000. Engineers Gate Manager LP increased its stake in Ligand Pharmaceuticals by 19.3% in the 1st quarter. Engineers Gate Manager LP now owns 5,729 shares of the biotechnology company’s stock worth $417,000 after buying an additional 925 shares during the period. Geode Capital Management LLC increased its stake in Ligand Pharmaceuticals by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 259,823 shares of the biotechnology company’s stock worth $18,894,000 after buying an additional 9,917 shares during the period. M&T Bank Corp purchased a new position in Ligand Pharmaceuticals in the 1st quarter worth about $284,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Ligand Pharmaceuticals by 25.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 3,883 shares of the biotechnology company’s stock worth $282,000 after buying an additional 785 shares during the period.

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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Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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