Barclays Issues Positive Forecast for Ligand Pharmaceuticals (NASDAQ:LGND) Stock Price

Ligand Pharmaceuticals (NASDAQ:LGND) had its target price boosted by Barclays from $150.00 to $160.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities analysts also recently issued reports about the company. Royal Bank of Canada increased their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Benchmark lifted their price target on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Oppenheimer raised their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $147.00.

Ligand Pharmaceuticals Stock Up 4.6 %

Ligand Pharmaceuticals stock opened at $122.34 on Monday. The stock has a market cap of $2.31 billion, a P/E ratio of 48.74 and a beta of 1.01. Ligand Pharmaceuticals has a twelve month low of $67.36 and a twelve month high of $129.90. The company’s 50-day moving average price is $114.39 and its two-hundred day moving average price is $102.59.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction dated 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 owns 29,515 shares in the company, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Reardon sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total value of $199,200.00. Following the transaction, the insider now directly owns 22,534 shares of the company’s stock, valued at $2,244,386.40. The trade was a 8.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,728 shares of company stock valued at $2,271,575. Company insiders own 5.90% of the company’s stock.

Institutional Trading of Ligand Pharmaceuticals

Several large investors have recently modified their holdings of LGND. Franklin Resources Inc. lifted its position in shares of Ligand Pharmaceuticals by 503.5% during the 3rd quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company’s stock valued at $9,793,000 after buying an additional 78,973 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Ligand Pharmaceuticals during the 3rd quarter valued at approximately $180,000. Geode Capital Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 5.5% in the 3rd quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock worth $42,874,000 after acquiring an additional 22,495 shares during the last quarter. Barclays PLC lifted its stake in Ligand Pharmaceuticals by 20.0% in the third quarter. Barclays PLC now owns 43,456 shares of the biotechnology company’s stock worth $4,349,000 after purchasing an additional 7,247 shares during the last quarter. Finally, MML Investors Services LLC purchased a new position in Ligand Pharmaceuticals during the 3rd quarter valued at $210,000. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Company Profile

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.