Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Given Average Rating of “Buy” by Analysts

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has been given an average recommendation of “Buy” by the six brokerages that are presently covering the stock, MarketBeat.com reports. Six equities research analysts have rated the stock with a buy recommendation. The average twelve-month price target among brokers that have covered the stock in the last year is $147.00.

A number of equities analysts recently issued reports on the stock. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. StockNews.com upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Tuesday, March 18th. Barclays boosted their target price on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, December 16th. Benchmark reaffirmed a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Finally, Royal Bank of Canada lifted their price target on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th.

Insider Activity at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the sale, the chief financial officer now directly owns 18,879 shares of the company’s stock, valued at $2,171,651.37. The trade was a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Hedge funds and other institutional investors have recently modified their holdings of the stock. GF Fund Management CO. LTD. purchased a new stake in Ligand Pharmaceuticals during the fourth quarter valued at about $43,000. Smartleaf Asset Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 119.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 221 shares during the period. Redwood Park Advisors LLC acquired a new stake in shares of Ligand Pharmaceuticals during the fourth quarter valued at approximately $48,000. Sterling Capital Management LLC lifted its position in shares of Ligand Pharmaceuticals by 825.4% in the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company’s stock valued at $59,000 after acquiring an additional 487 shares in the last quarter. Finally, US Bancorp DE boosted its stake in Ligand Pharmaceuticals by 14.8% in the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock worth $81,000 after purchasing an additional 98 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Performance

Shares of LGND opened at $108.09 on Thursday. Ligand Pharmaceuticals has a one year low of $67.72 and a one year high of $129.90. The stock’s fifty day moving average is $114.31 and its 200-day moving average is $111.98. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 43.06 and a beta of 1.12.

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.