StockNews.com upgraded shares of Ligand Pharmaceuticals (NASDAQ:LGND - Free Report) from a sell rating to a hold rating in a report published on Tuesday.
A number of other brokerages have also weighed in on LGND. Stifel Nicolaus assumed coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, April 10th. They set a "buy" rating and a $143.00 target price on the stock. Benchmark reaffirmed a "buy" rating and set a $135.00 price objective on shares of Ligand Pharmaceuticals in a research report on Monday, December 23rd. Finally, Barclays increased their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an "overweight" rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.
Check Out Our Latest Analysis on LGND
Ligand Pharmaceuticals Stock Up 0.3 %
Shares of LGND traded up $0.35 during mid-day trading on Tuesday, hitting $104.97. 105,130 shares of the company's stock traded hands, compared to its average volume of 121,260. The business's 50-day moving average price is $109.82 and its 200-day moving average price is $112.18. Ligand Pharmaceuticals has a 1 year low of $67.72 and a 1 year high of $129.90. The firm has a market capitalization of $2.02 billion, a P/E ratio of 41.82 and a beta of 1.07.
Insider Activity at Ligand Pharmaceuticals
In related news, CFO Octavio Espinoza sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total value of $575,150.00. Following the completion of the transaction, the chief financial officer now directly owns 18,879 shares in the company, valued at $2,171,651.37. The trade was a 20.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Ligand Pharmaceuticals by 5.8% in the 4th quarter. Vanguard Group Inc. now owns 2,085,627 shares of the biotechnology company's stock worth $223,475,000 after buying an additional 115,005 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of Ligand Pharmaceuticals by 0.6% during the fourth quarter. Janus Henderson Group PLC now owns 1,015,023 shares of the biotechnology company's stock valued at $108,757,000 after purchasing an additional 5,929 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Ligand Pharmaceuticals by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 723,019 shares of the biotechnology company's stock valued at $77,470,000 after purchasing an additional 16,003 shares during the period. State Street Corp grew its position in Ligand Pharmaceuticals by 2.7% in the 3rd quarter. State Street Corp now owns 707,414 shares of the biotechnology company's stock worth $70,805,000 after purchasing an additional 18,642 shares during the period. Finally, Congress Asset Management Co. raised its stake in Ligand Pharmaceuticals by 3.4% during the 1st quarter. Congress Asset Management Co. now owns 642,712 shares of the biotechnology company's stock valued at $67,575,000 after buying an additional 21,230 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.
Ligand Pharmaceuticals Company Profile
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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.
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