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

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

LGND has been the subject of a number of research analyst reports. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Barclays lifted 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. Royal Bank of Canada lifted their target price on shares of Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 11th. Benchmark reiterated a “buy” rating and set a $135.00 price target on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Finally, Oppenheimer lifted their price target on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, Director John L. Lamattina sold 2,406 shares of the stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total value of $297,501.90. Following the sale, the director now owns 29,515 shares in the company, valued at $3,649,529.75. This represents a 7.54 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total transaction of $244,842.48. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Ligand Pharmaceuticals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its position in Ligand Pharmaceuticals by 5.3% during the fourth quarter. Nordea Investment Management AB now owns 58,572 shares of the biotechnology company’s stock valued at $6,250,000 after buying an additional 2,970 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Ligand Pharmaceuticals by 5.0% in the third quarter. Principal Financial Group Inc. now owns 93,208 shares of the biotechnology company’s stock worth $9,329,000 after buying an additional 4,439 shares in the last quarter. Franklin Resources Inc. raised its stake in Ligand Pharmaceuticals by 503.5% during the third quarter. Franklin Resources Inc. now owns 94,659 shares of the biotechnology company’s stock worth $9,793,000 after purchasing an additional 78,973 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Ligand Pharmaceuticals during the third quarter worth about $180,000. Finally, Geode Capital Management LLC raised its stake in Ligand Pharmaceuticals by 5.5% during the third quarter. Geode Capital Management LLC now owns 428,270 shares of the biotechnology company’s stock worth $42,874,000 after purchasing an additional 22,495 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Trading Down 0.4 %

Ligand Pharmaceuticals stock opened at $105.86 on Friday. Ligand Pharmaceuticals has a 1-year low of $67.53 and a 1-year high of $129.90. The firm has a 50-day moving average of $115.95 and a 200-day moving average of $106.62. The firm has a market cap of $2.00 billion, a P/E ratio of 42.18 and a beta of 1.05.

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.