Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $147.00 Consensus Price Target from Analysts

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has been given a consensus recommendation of “Buy” by the six ratings firms that are currently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a buy rating. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $147.00.

Several brokerages have recently weighed in on LGND. StockNews.com upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Tuesday, March 18th. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th. Royal Bank of Canada boosted their price target on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. 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, Barclays increased their price target on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $115.03, for a total value of $575,150.00. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Ligand Pharmaceuticals

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

Ligand Pharmaceuticals Stock Down 2.3 %

Shares of Ligand Pharmaceuticals stock opened at $105.14 on Thursday. Ligand Pharmaceuticals has a twelve month low of $67.72 and a twelve month high of $129.90. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 41.89 and a beta of 1.12. The company’s 50 day moving average is $114.06 and its 200 day moving average is $112.15.

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.