Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives Average Rating of “Buy” from Analysts

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has been given a consensus recommendation of “Buy” by the six analysts that are presently covering the stock, Marketbeat reports. Six investment analysts have rated the stock with a buy rating. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $147.00.

A number of brokerages have recently issued reports on LGND. Benchmark reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Royal Bank of Canada increased their price objective on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Barclays boosted their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Finally, StockNews.com raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th.

Ligand Pharmaceuticals Price Performance

Shares of LGND stock opened at $105.14 on Thursday. The stock’s 50-day moving average is $114.06 and its 200 day moving average is $112.15. Ligand Pharmaceuticals has a 1-year low of $67.72 and a 1-year high of $129.90. The company has a market cap of $2.02 billion, a P/E ratio of 41.89 and a beta of 1.12.

Insider Activity at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total transaction of $575,150.00. Following the sale, the chief financial officer now directly owns 18,879 shares of the company’s stock, valued at $2,171,651.37. This represents a 20.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.90% of the stock is owned by company insiders.

Institutional Trading of Ligand Pharmaceuticals

Several institutional investors have recently modified their holdings of LGND. Smartleaf Asset Management LLC boosted its stake in Ligand Pharmaceuticals by 119.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 221 shares during the last quarter. GF Fund Management CO. LTD. acquired a new stake in shares of Ligand Pharmaceuticals during the 4th quarter worth about $43,000. Redwood Park Advisors LLC purchased a new stake in Ligand Pharmaceuticals in the 4th quarter valued at about $48,000. Sterling Capital Management LLC boosted its position in shares of Ligand Pharmaceuticals by 825.4% during the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company’s stock worth $59,000 after purchasing an additional 487 shares during the period. Finally, US Bancorp DE grew its stake in shares of Ligand Pharmaceuticals by 14.8% in the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 98 shares in the last quarter. Institutional investors and hedge funds 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.