Brokerages Set Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) PT at $147.00

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has earned an average rating of “Buy” from the six research firms that are presently covering the company, MarketBeat reports. Six research analysts have rated the stock with a buy recommendation. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $147.00.

LGND has been the topic of a number of recent research reports. Barclays upped their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a research note 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. Royal Bank of Canada upped their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Oppenheimer upped their price target on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th.

Ligand Pharmaceuticals Stock Performance

LGND stock opened at $115.26 on Friday. Ligand Pharmaceuticals has a one year low of $67.72 and a one year high of $129.90. The company’s fifty day moving average price is $114.15 and its 200-day moving average price is $111.36. The company has a market capitalization of $2.18 billion, a PE ratio of 45.92 and a beta of 1.04.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 2,104 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total transaction of $244,842.48. Following the transaction, the chief financial officer now owns 20,647 shares in the company, valued at $2,402,691.39. The trade was a 9.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Barclays PLC increased its position in Ligand Pharmaceuticals by 20.0% during the third quarter. Barclays PLC now owns 43,456 shares of the biotechnology company’s stock valued at $4,349,000 after acquiring an additional 7,247 shares during the last quarter. Geode Capital Management LLC grew its holdings in Ligand Pharmaceuticals by 5.5% during 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 in the last quarter. Fisher Asset Management LLC grew its holdings in Ligand Pharmaceuticals by 12.4% during the 3rd quarter. Fisher Asset Management LLC now owns 59,574 shares of the biotechnology company’s stock worth $5,963,000 after acquiring an additional 6,555 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of Ligand Pharmaceuticals by 1.4% during the fourth quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock valued at $771,000 after buying an additional 96 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Ligand Pharmaceuticals by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 163,924 shares of the biotechnology company’s stock valued at $16,407,000 after buying an additional 8,584 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

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.