Ligand Pharmaceuticals (NASDAQ:LGND) Given New $140.00 Price Target at Craig Hallum

Ligand Pharmaceuticals (NASDAQ:LGNDFree Report) had its price objective increased by Craig Hallum from $135.00 to $140.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a buy rating on the biotechnology company’s stock.

Other analysts also recently issued research reports about the stock. Benchmark reissued a buy rating and issued a $95.00 price objective on shares of Ligand Pharmaceuticals in a report on Friday, June 28th. HC Wainwright reissued a buy rating and issued a $144.00 price objective on shares of Ligand Pharmaceuticals in a report on Monday. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of Moderate Buy and a consensus price target of $122.25.

Read Our Latest Report on LGND

Ligand Pharmaceuticals Stock Performance

Shares of LGND opened at $91.71 on Tuesday. Ligand Pharmaceuticals has a 52 week low of $49.24 and a 52 week high of $94.57. The firm has a market cap of $1.65 billion, a P/E ratio of 17.74 and a beta of 1.01. The firm’s 50-day simple moving average is $82.43 and its 200 day simple moving average is $76.94.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $3.01. The business had revenue of $30.90 million for the quarter, compared to analyst estimates of $27.92 million. Ligand Pharmaceuticals had a net margin of 79.30% and a return on equity of 8.52%. Ligand Pharmaceuticals’s quarterly revenue was down 29.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.96 EPS. As a group, equities analysts forecast that Ligand Pharmaceuticals will post 3.54 earnings per share for the current year.

Insider Transactions at Ligand Pharmaceuticals

In other news, insider Andrew Reardon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $83.04, for a total transaction of $830,400.00. Following the completion of the sale, the insider now owns 22,205 shares of the company’s stock, valued at approximately $1,843,903.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Andrew Reardon sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $83.04, for a total transaction of $830,400.00. Following the completion of the sale, the insider now owns 22,205 shares of the company’s stock, valued at approximately $1,843,903.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Octavio Espinoza sold 5,873 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.01, for a total transaction of $505,136.73. Following the sale, the chief financial officer now directly owns 23,882 shares of the company’s stock, valued at approximately $2,054,090.82. The disclosure for this sale can be found here. In the last 90 days, insiders sold 25,403 shares of company stock valued at $2,150,882. Company insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp lifted its stake in Ligand Pharmaceuticals by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 14,344 shares of the biotechnology company’s stock valued at $1,049,000 after purchasing an additional 185 shares during the last quarter. Swiss National Bank lifted its stake in Ligand Pharmaceuticals by 0.6% in the 1st quarter. Swiss National Bank now owns 32,700 shares of the biotechnology company’s stock valued at $2,390,000 after purchasing an additional 200 shares during the last quarter. ProShare Advisors LLC lifted its stake in Ligand Pharmaceuticals by 8.5% in the 1st quarter. ProShare Advisors LLC now owns 4,627 shares of the biotechnology company’s stock valued at $338,000 after purchasing an additional 363 shares during the last quarter. Burney Co. lifted its stake in Ligand Pharmaceuticals by 13.4% in the 1st quarter. Burney Co. now owns 3,524 shares of the biotechnology company’s stock valued at $258,000 after purchasing an additional 416 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in Ligand Pharmaceuticals by 3.2% in the 4th quarter. Franklin Resources Inc. now owns 14,066 shares of the biotechnology company’s stock valued at $1,005,000 after acquiring an additional 438 shares during the period. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Company Profile

(Get Free Report)

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.

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