Ligand Pharmaceuticals (NASDAQ:LGND) Receives Buy Rating from HC Wainwright

HC Wainwright restated their buy rating on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a research report released on Friday morning,Benzinga reports. HC Wainwright currently has a $157.00 price objective on the biotechnology company’s stock.

Other research analysts have also issued reports about the stock. Barclays increased their price objective on shares of Ligand Pharmaceuticals from $110.00 to $125.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, August 7th. Oppenheimer initiated coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, October 3rd. They set an “outperform” rating and a $135.00 price objective for the company. Finally, Benchmark increased their target price on Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $143.17.

Ligand Pharmaceuticals Trading Down 6.7 %

NASDAQ LGND opened at $121.25 on Friday. The business’s 50-day moving average price is $105.57 and its 200 day moving average price is $95.57. Ligand Pharmaceuticals has a twelve month low of $51.21 and a twelve month high of $129.90. The company has a market capitalization of $2.22 billion, a PE ratio of 48.31 and a beta of 0.99.

Insider Transactions at Ligand Pharmaceuticals

In related news, COO Matthew E. Korenberg sold 11,389 shares of Ligand Pharmaceuticals stock in a transaction on Monday, August 26th. The shares were sold at an average price of $105.61, for a total transaction of $1,202,792.29. Following the transaction, the chief operating officer now owns 49,510 shares in the company, valued at approximately $5,228,751.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, COO Matthew E. Korenberg sold 11,389 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $105.61, for a total transaction of $1,202,792.29. Following the sale, the chief operating officer now directly owns 49,510 shares in the company, valued at approximately $5,228,751.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andrew Reardon sold 1,500 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $106.39, for a total value of $159,585.00. Following the completion of the transaction, the insider now owns 22,534 shares of the company’s stock, valued at approximately $2,397,392.26. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 33,368 shares of company stock valued at $3,458,560 over the last 90 days. Corporate insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LGND. Woodstock Corp boosted its holdings in Ligand Pharmaceuticals by 0.3% in the third quarter. Woodstock Corp now owns 29,211 shares of the biotechnology company’s stock valued at $2,924,000 after purchasing an additional 100 shares during the last quarter. Creative Planning raised its position in shares of Ligand Pharmaceuticals by 4.0% in the 3rd quarter. Creative Planning now owns 2,896 shares of the biotechnology company’s stock valued at $290,000 after purchasing an additional 111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Ligand Pharmaceuticals by 23.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 125 shares during the last quarter. Headlands Technologies LLC grew its position in shares of Ligand Pharmaceuticals by 21.7% during the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after buying an additional 135 shares in the last quarter. Finally, Arizona State Retirement System increased its stake in shares of Ligand Pharmaceuticals by 3.4% in the second quarter. Arizona State Retirement System now owns 4,708 shares of the biotechnology company’s stock worth $397,000 after buying an additional 156 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; 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.