#4 - Ligand Pharmaceuticals (NASDAQ:LGND)
Ligand Pharmaceuticals (NASDAQ: LGND) - Ligand develops or acquires technologies that assist pharmaceutical companies in their efforts to discover and create new medicines. Biotech companies like Ligand are notoriously among the most volatile stocks in the industry. Still, when a company with a market cap of over $2 billion sees their stock drop from a high of nearly $280 per share to close under $110, investors take notice – as do analysts. All five analysts that cover the company gave it a buy rating with a consensus price target of $202 – which would be a nearly 80% increase from the current price that is sitting just below $112. In May, CEO John Higgins purchased over $280,000 of the company’s stock when the stock was selling for $113.50 per share. Over the last 90 days, a total of 4,500 shares of the company’s stock have been purchased by company insiders. Adding fuel to the notion that the stock is about to rise, call options for the company’s stock on June 26 were over 1,000 percent higher than normal.
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.
Read More - Current Price
- $119.19
- Consensus Rating
- Buy
- Ratings Breakdown
- 6 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $144.83 (21.5% Upside)
