Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives Average Recommendation of "Buy" from Analysts

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) have been given an average rating of "Buy" by the six analysts that are currently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $147.00.

A number of brokerages have recently commented on LGND. StockNews.com raised shares of Ligand Pharmaceuticals from a "sell" rating to a "hold" rating in a report on Tuesday, March 18th. HC Wainwright reiterated a "buy" rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Barclays lifted their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an "overweight" rating in a research report on Monday, December 16th. 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. Finally, Benchmark reissued a "buy" rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday, December 23rd.

Insider Buying and Selling at Ligand Pharmaceuticals

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

Remove Ads

Institutional Trading of Ligand Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth $286,000. GF Fund Management CO. LTD. purchased a new position in Ligand Pharmaceuticals in the fourth quarter valued at $43,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Ligand Pharmaceuticals by 26.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 50,401 shares of the biotechnology company's stock worth $5,400,000 after buying an additional 10,563 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth $1,800,000. Finally, ProShare Advisors LLC boosted its holdings in Ligand Pharmaceuticals by 32.0% in the fourth quarter. ProShare Advisors LLC now owns 6,144 shares of the biotechnology company's stock valued at $658,000 after purchasing an additional 1,490 shares in the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Trading Down 1.9 %

Ligand Pharmaceuticals stock traded down $2.08 during midday trading on Thursday, reaching $107.62. The stock had a trading volume of 68,270 shares, compared to its average volume of 123,590. Ligand Pharmaceuticals has a 12 month low of $67.72 and a 12 month high of $129.90. The company has a fifty day moving average price of $114.20 and a two-hundred day moving average price of $112.13. The company has a market capitalization of $2.07 billion, a P/E ratio of 42.88 and a beta of 1.12.

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.