Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $147.00 Consensus Target Price from Brokerages

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has been assigned a consensus recommendation of “Buy” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $147.00.

A number of equities research analysts have recently issued reports on LGND shares. Benchmark restated a “buy” rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday. Barclays increased their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Oppenheimer boosted their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Royal Bank of Canada raised their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Finally, HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th.

Ligand Pharmaceuticals Price Performance

Shares of LGND opened at $113.80 on Tuesday. The firm has a market capitalization of $2.15 billion, a PE ratio of 45.34 and a beta of 1.01. The company’s 50-day moving average is $115.68 and its 200-day moving average is $103.70. Ligand Pharmaceuticals has a fifty-two week low of $67.53 and a fifty-two week high of $129.90.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the transaction, the director now directly owns 29,515 shares in the company, valued at $3,649,529.75. The trade was a 7.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its stake in Ligand Pharmaceuticals by 5.0% during the third quarter. Principal Financial Group Inc. now owns 93,208 shares of the biotechnology company’s stock worth $9,329,000 after acquiring an additional 4,439 shares in the last quarter. Franklin Resources Inc. grew its holdings 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 purchasing an additional 78,973 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Ligand Pharmaceuticals during the 3rd quarter worth approximately $180,000. Geode Capital Management LLC lifted its stake in Ligand Pharmaceuticals by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock valued at $42,874,000 after purchasing an additional 22,495 shares during the last quarter. Finally, Barclays PLC boosted its position in Ligand Pharmaceuticals by 20.0% in the third quarter. Barclays PLC now owns 43,456 shares of the biotechnology company’s stock valued at $4,349,000 after buying an additional 7,247 shares in the last quarter. 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.