Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $144.83 Consensus PT from Analysts

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has been assigned an average rating of “Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $144.83.

LGND has been the topic of a number of recent analyst reports. HC Wainwright reaffirmed a “buy” rating and set a $157.00 price target on shares of Ligand Pharmaceuticals in a report on Friday, November 8th. Benchmark lifted their target price on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Royal Bank of Canada increased their price target on Ligand Pharmaceuticals from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Oppenheimer lifted their price objective on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Barclays increased their target price on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, November 8th.

Insider Activity at Ligand Pharmaceuticals

In other news, COO Matthew E. Korenberg sold 9,772 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $101.22, for a total value of $989,121.84. Following the completion of the transaction, the chief operating officer now owns 50,777 shares of the company’s stock, valued at $5,139,647.94. This represents a 16.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Octavio Espinoza sold 1,275 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $103.94, for a total value of $132,523.50. Following the sale, the chief financial officer now directly owns 24,610 shares in the company, valued at $2,557,963.40. This trade represents a 4.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,322 shares of company stock worth $1,974,073. 5.90% of the stock is owned by company insiders.

Institutional Trading of Ligand Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of LGND. Chicago Capital LLC increased its holdings in shares of Ligand Pharmaceuticals by 124.3% in the second quarter. Chicago Capital LLC now owns 514,946 shares of the biotechnology company’s stock worth $43,389,000 after purchasing an additional 285,350 shares during the last quarter. Ashford Capital Management Inc. purchased a new position in Ligand Pharmaceuticals during the 1st quarter valued at approximately $14,367,000. F M Investments LLC bought a new stake in Ligand Pharmaceuticals in the 2nd quarter worth approximately $11,350,000. Loomis Sayles & Co. L P raised its holdings in shares of Ligand Pharmaceuticals by 44.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company’s stock worth $37,312,000 after acquiring an additional 114,436 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Ligand Pharmaceuticals by 503.5% during the 3rd quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company’s stock valued at $9,793,000 after acquiring an additional 78,973 shares during the last quarter. 91.28% of the stock is currently owned by institutional investors.

Ligand Pharmaceuticals Price Performance

Ligand Pharmaceuticals stock opened at $122.55 on Friday. Ligand Pharmaceuticals has a one year low of $57.00 and a one year high of $129.90. The business’s fifty day moving average is $109.38 and its 200 day moving average is $99.33. The stock has a market capitalization of $2.32 billion, a PE ratio of 48.82 and a beta of 0.99.

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.