Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) have been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $239.3333.

Several research analysts have recently commented on LGND shares. Oppenheimer raised their price objective on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the stock an “outperform” rating in a research note on Monday, November 3rd. Benchmark increased their target price on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Royal Bank Of Canada lifted their price target on shares of Ligand Pharmaceuticals from $234.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a research report on Monday, December 29th. Finally, HC Wainwright raised their price objective on shares of Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a research report on Thursday, November 6th.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 1,804 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $188.31, for a total value of $339,711.24. Following the sale, the chief financial officer directly owned 26,186 shares of the company’s stock, valued at approximately $4,931,085.66. The trade was a 6.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John W. Kozarich sold 467 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $195.91, for a total value of $91,489.97. Following the sale, the director owned 43,187 shares in the company, valued at approximately $8,460,765.17. This trade represents a 1.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,205 shares of company stock valued at $611,192 over the last ninety days. 7.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Ligand Pharmaceuticals

A number of institutional investors have recently bought and sold shares of the stock. Salomon & Ludwin LLC acquired a new position in Ligand Pharmaceuticals in the 3rd quarter worth approximately $26,000. CIBC Private Wealth Group LLC boosted its holdings in shares of Ligand Pharmaceuticals by 86.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth $31,000. Richardson Financial Services Inc. raised its holdings in shares of Ligand Pharmaceuticals by 85.8% during the third quarter. Richardson Financial Services Inc. now owns 210 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 97 shares during the last quarter. Finally, USA Financial Formulas acquired a new position in Ligand Pharmaceuticals during the fourth quarter valued at $43,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Trading Up 1.2%

Shares of NASDAQ:LGND opened at $183.83 on Friday. The stock’s 50-day simple moving average is $193.78 and its two-hundred day simple moving average is $182.23. The stock has a market capitalization of $3.62 billion, a price-to-earnings ratio of 88.81 and a beta of 1.14. Ligand Pharmaceuticals has a 52-week low of $93.58 and a 52-week high of $212.49. The company has a debt-to-equity ratio of 0.47, a quick ratio of 24.30 and a current ratio of 24.69.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.