Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Given Consensus Recommendation of "Buy" by Analysts

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) have been assigned an average rating of "Buy" from the six brokerages that are presently covering the company, Marketbeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $147.00.

Several equities research analysts have commented on the stock. Royal Bank of Canada boosted 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. Oppenheimer increased their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. Benchmark restated a "buy" rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd. Barclays upped their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a report on Monday, December 16th. Finally, HC Wainwright reissued a "buy" rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th.

Insider Transactions at Ligand Pharmaceuticals

In other news, Director John L. Lamattina sold 2,406 shares of the company's stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the transaction, the director now directly owns 29,515 shares of the company's stock, valued at approximately $3,649,529.75. This represents a 7.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Octavio Espinoza sold 2,104 shares of Ligand Pharmaceuticals stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the sale, the chief financial officer now directly owns 20,647 shares of the company's stock, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Ligand Pharmaceuticals

A number of hedge funds have recently added to or reduced their stakes in the company. Woodstock Corp lifted its position in shares of Ligand Pharmaceuticals by 0.3% in the third quarter. Woodstock Corp now owns 29,211 shares of the biotechnology company's stock worth $2,924,000 after buying an additional 100 shares during the last quarter. Creative Planning boosted its position in Ligand Pharmaceuticals by 4.0% during the third quarter. Creative Planning now owns 2,896 shares of the biotechnology company's stock worth $290,000 after purchasing an additional 111 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ligand Pharmaceuticals by 23.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 125 shares during the last quarter. Headlands Technologies LLC grew its holdings in Ligand Pharmaceuticals by 21.7% during the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 135 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Ligand Pharmaceuticals by 3.4% in the second quarter. Arizona State Retirement System now owns 4,708 shares of the biotechnology company's stock worth $397,000 after buying an additional 156 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.

Ligand Pharmaceuticals Price Performance

Shares of LGND traded down $4.30 during midday trading on Friday, reaching $106.28. The stock had a trading volume of 84,727 shares, compared to its average volume of 88,821. The company has a market capitalization of $2.01 billion, a P/E ratio of 42.34 and a beta of 1.05. The firm's 50 day moving average price is $115.95 and its 200-day moving average price is $106.42. Ligand Pharmaceuticals has a 52 week low of $67.53 and a 52 week high of $129.90.

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.