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

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has earned a consensus rating of “Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $147.00.

Several equities research analysts have weighed in on the company. Royal Bank of Canada increased their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Oppenheimer lifted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Barclays upped their target price on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Benchmark lifted their price target on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th.

Ligand Pharmaceuticals Trading Up 0.6 %

Shares of Ligand Pharmaceuticals stock opened at $114.64 on Tuesday. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 45.67 and a beta of 1.01. Ligand Pharmaceuticals has a twelve month low of $67.53 and a twelve month high of $129.90. The business’s 50 day simple moving average is $115.47 and its 200-day simple moving average is $103.19.

Insider Transactions at Ligand Pharmaceuticals

In other news, COO Matthew E. Korenberg sold 9,772 shares of the business’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $101.22, for a total value of $989,121.84. Following the sale, the chief operating officer now owns 50,777 shares of the company’s stock, valued at approximately $5,139,647.94. The trade was a 16.14 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andrew Reardon sold 2,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now owns 22,534 shares of the company’s stock, valued at approximately $2,244,386.40. This trade represents a 8.15 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 14,178 shares of company stock valued at $1,485,824. Company insiders own 5.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Innealta Capital LLC acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter worth approximately $31,000. Rothschild Investment LLC bought a new position in shares of Ligand Pharmaceuticals in the second quarter valued at $34,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Ligand Pharmaceuticals by 23.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 125 shares during the last quarter. Headlands Technologies LLC boosted its stake in shares of Ligand Pharmaceuticals by 21.7% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 135 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter worth $67,000. 91.28% of the stock is owned by institutional investors and hedge funds.

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.