Benchmark Reiterates “Buy” Rating for Ligand Pharmaceuticals (NASDAQ:LGND)

Benchmark reissued their buy rating on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a research report report published on Monday morning,Benzinga reports. The firm currently has a $135.00 target price on the biotechnology company’s stock.

A number of other analysts also recently weighed in on the stock. Barclays upped their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Royal Bank of Canada raised their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Finally, Oppenheimer upped their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of “Buy” and a consensus target price of $147.00.

Ligand Pharmaceuticals Stock Down 0.4 %

LGND stock opened at $113.38 on Monday. Ligand Pharmaceuticals has a 52 week low of $67.53 and a 52 week high of $129.90. The business has a 50-day simple moving average of $115.98 and a 200 day simple moving average of $103.99. The company has a market cap of $2.14 billion, a PE ratio of 45.17 and a beta of 1.01.

Insider Activity

In related news, Director John L. Lamattina sold 2,406 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total value of $297,501.90. Following the completion of the sale, the director now directly owns 29,515 shares in the company, valued at $3,649,529.75. This represents a 7.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ligand Pharmaceuticals

A number of institutional investors have recently made changes to their positions in the stock. Innealta Capital LLC acquired a new position in shares of Ligand Pharmaceuticals in the second quarter worth approximately $31,000. Rothschild Investment LLC bought a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $34,000. Headlands Technologies LLC raised its stake in 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 during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Ligand Pharmaceuticals by 23.3% in the third 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 period. Finally, Benjamin F. Edwards & Company Inc. bought a new stake in Ligand Pharmaceuticals during the second quarter valued at $67,000. 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.