Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $190.67 Consensus PT from Analysts

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) have earned an average rating of “Moderate Buy” from the seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $198.1667.

LGND has been the topic of several research analyst reports. Weiss Ratings upgraded Ligand Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday. Oppenheimer lifted their target price on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a research report on Monday, November 3rd. Benchmark boosted their price target on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday. HC Wainwright raised their price objective on shares of Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Wall Street Zen upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 9th.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, Director Jason Aryeh sold 10,000 shares of Ligand Pharmaceuticals stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $170.81, for a total value of $1,708,100.00. Following the completion of the transaction, the director directly owned 69,289 shares in the company, valued at approximately $11,835,254.09. This trade represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John W. Kozarich sold 467 shares of the business’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $191.05, for a total value of $89,220.35. Following the transaction, the director directly owned 44,588 shares of the company’s stock, valued at $8,518,537.40. The trade was a 1.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 11,401 shares of company stock valued at $1,956,894. Insiders own 7.00% of the company’s stock.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp grew its position in shares of Ligand Pharmaceuticals by 3.1% during the second quarter. State Street Corp now owns 749,754 shares of the biotechnology company’s stock worth $85,232,000 after buying an additional 22,629 shares in the last quarter. Congress Asset Management Co. lifted its stake in Ligand Pharmaceuticals by 3.0% in the third quarter. Congress Asset Management Co. now owns 667,311 shares of the biotechnology company’s stock worth $118,207,000 after acquiring an additional 19,370 shares during the last quarter. Chicago Capital LLC grew its holdings in Ligand Pharmaceuticals by 3.1% during the 2nd quarter. Chicago Capital LLC now owns 571,825 shares of the biotechnology company’s stock worth $65,005,000 after acquiring an additional 17,308 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Ligand Pharmaceuticals by 59.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 541,845 shares of the biotechnology company’s stock worth $95,982,000 after acquiring an additional 202,103 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Ligand Pharmaceuticals by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 488,778 shares of the biotechnology company’s stock valued at $55,571,000 after purchasing an additional 24,326 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Performance

Shares of LGND stock opened at $202.48 on Friday. The firm has a market cap of $3.97 billion, a P/E ratio of -50.62 and a beta of 0.91. The firm’s 50 day moving average price is $177.98 and its 200-day moving average price is $142.14. Ligand Pharmaceuticals has a one year low of $93.58 and a one year high of $211.91.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $1.13. Ligand Pharmaceuticals had a negative return on equity of 9.21% and a negative net margin of 40.44%.The company had revenue of $86.89 million for the quarter, compared to analyst estimates of $58.71 million. During the same quarter in the previous year, the company earned $1.84 earnings per share. The firm’s quarterly revenue was up 123.0% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. As a group, research analysts predict that Ligand Pharmaceuticals will post 1.73 EPS for the current fiscal year.

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.