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

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) have been given a consensus recommendation of “Buy” by the six research firms that are covering the company, Marketbeat.com reports. Six equities research analysts have rated the stock with a buy rating. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $147.00.

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

Ligand Pharmaceuticals Stock Down 0.4 %

Ligand Pharmaceuticals stock opened at $113.94 on Tuesday. The company’s 50-day moving average price is $114.97 and its two-hundred day moving average price is $102.92. The stock has a market cap of $2.15 billion, a P/E ratio of 45.39 and a beta of 1.01. Ligand Pharmaceuticals has a twelve month low of $67.53 and a twelve month high of $129.90.

Insider Transactions at Ligand Pharmaceuticals

In related news, insider Andrew Reardon sold 2,000 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the transaction, the insider now owns 22,534 shares in the company, valued at $2,244,386.40. The trade was a 8.15 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Lamattina sold 2,406 shares of the firm’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the transaction, the director now directly owns 29,515 shares in the company, valued at $3,649,529.75. This trade represents a 7.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,178 shares of company stock worth $1,485,824. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the business. Chicago Capital LLC raised its position in shares of Ligand Pharmaceuticals by 124.3% in the second quarter. Chicago Capital LLC now owns 514,946 shares of the biotechnology company’s stock valued at $43,389,000 after purchasing an additional 285,350 shares during the period. F M Investments LLC purchased a new position in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $11,350,000. Loomis Sayles & Co. L P raised its holdings in Ligand Pharmaceuticals by 44.3% during the 3rd quarter. Loomis Sayles & Co. L P now owns 372,779 shares of the biotechnology company’s stock valued at $37,312,000 after acquiring an additional 114,436 shares during the period. Franklin Resources Inc. lifted its position in shares of 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 acquiring an additional 78,973 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Ligand Pharmaceuticals by 6.7% in the second quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company’s stock worth $59,707,000 after acquiring an additional 44,543 shares during the period. 91.28% of the stock is owned by hedge funds and other institutional investors.

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.