Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $146.43 Average PT from Brokerages

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) have received a consensus rating of "Buy" from the seven research firms that are covering the company, MarketBeat reports. Seven research analysts have rated the stock with a buy recommendation. The average twelve-month price target among analysts that have covered the stock in the last year is $146.43.

Several research analysts have commented on the company. Stifel Nicolaus started coverage on Ligand Pharmaceuticals in a research note on Thursday, April 10th. They set a "buy" rating and a $143.00 target price for the company. StockNews.com upgraded shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a research report on Tuesday, April 15th.

Insider Activity

In related news, CFO Octavio Espinoza sold 5,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total value of $575,150.00. Following the completion of the sale, the chief financial officer now directly owns 18,879 shares in the company, valued at $2,171,651.37. This represents a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.90% of the company's stock.

Institutional Investors Weigh In On Ligand Pharmaceuticals

A number of institutional investors have recently made changes to their positions in LGND. Opal Wealth Advisors LLC bought a new position in shares of Ligand Pharmaceuticals during the first quarter worth about $32,000. Smartleaf Asset Management LLC raised its holdings 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. bought a new position in Ligand Pharmaceuticals during the 4th quarter worth approximately $43,000. Redwood Park Advisors LLC bought a new stake in shares of Ligand Pharmaceuticals in the 4th quarter valued at $48,000. Finally, Sterling Capital Management LLC increased its position in shares of Ligand Pharmaceuticals by 825.4% during the fourth quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock worth $59,000 after buying an additional 487 shares during the period. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Stock Performance

Shares of Ligand Pharmaceuticals stock traded down $0.71 during trading on Monday, reaching $105.76. 171,363 shares of the company's stock were exchanged, compared to its average volume of 120,752. Ligand Pharmaceuticals has a 1-year low of $68.50 and a 1-year high of $129.90. The company has a market cap of $2.04 billion, a P/E ratio of 42.14 and a beta of 1.07. The firm's 50-day moving average price is $109.54 and its 200 day moving average price is $112.21.

About Ligand Pharmaceuticals

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.