Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Given Consensus Rating of "Buy" by Brokerages

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) have earned an average recommendation of "Buy" from the six research firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a buy recommendation. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $147.00.

Several equities research analysts recently issued reports on LGND shares. HC Wainwright reissued a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Royal Bank of Canada lifted their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Barclays upped their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a report on Monday, December 16th. Oppenheimer lifted their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Finally, Benchmark restated a "buy" rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd.

Ligand Pharmaceuticals Trading Down 2.2 %

Shares of Ligand Pharmaceuticals stock traded down $2.65 during trading hours on Wednesday, reaching $115.19. 68,485 shares of the company's stock were exchanged, compared to its average volume of 78,328. Ligand Pharmaceuticals has a 52-week low of $67.72 and a 52-week high of $129.90. The company has a fifty day moving average of $114.54 and a 200-day moving average of $109.64. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of 45.89 and a beta of 1.04.

Insider Buying and Selling at Ligand Pharmaceuticals

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

Hedge Funds Weigh In On Ligand Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Yousif Capital Management LLC increased its position in Ligand Pharmaceuticals by 1.4% in the 4th quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company's stock valued at $771,000 after acquiring an additional 96 shares during the period. US Bancorp DE raised its stake in shares of Ligand Pharmaceuticals by 14.8% during the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock valued at $81,000 after purchasing an additional 98 shares in the last quarter. Woodstock Corp raised its stake in shares of Ligand Pharmaceuticals by 0.3% during the third quarter. Woodstock Corp now owns 29,211 shares of the biotechnology company's stock valued at $2,924,000 after purchasing an additional 100 shares in the last quarter. Creative Planning lifted its holdings in Ligand Pharmaceuticals by 4.0% in 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. Finally, Mutual of America Capital Management LLC grew its position in Ligand Pharmaceuticals by 4.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 2,862 shares of the biotechnology company's stock valued at $307,000 after buying an additional 115 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

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.