Ligand Pharmaceuticals (NASDAQ:LGND) Coverage Initiated at Bank of America

Analysts at Bank of America began coverage on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a note issued to investors on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $244.00 price target on the biotechnology company’s stock. Bank of America‘s price target would indicate a potential upside of 15.38% from the stock’s previous close.

Several other research firms also recently weighed in on LGND. Oppenheimer lifted their price objective on Ligand Pharmaceuticals from $275.00 to $277.00 and gave the company an “outperform” rating in a report on Friday, February 27th. HC Wainwright raised their target price on shares of Ligand Pharmaceuticals from $231.00 to $239.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Weiss Ratings restated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a report on Monday, December 29th. Citigroup initiated coverage on shares of Ligand Pharmaceuticals in a research report on Tuesday, December 9th. They issued a “buy” rating and a $270.00 price target for the company. Finally, Wall Street Zen downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $245.00.

Ligand Pharmaceuticals Stock Down 4.4%

Shares of NASDAQ LGND opened at $211.48 on Wednesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 21.98 and a current ratio of 22.23. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 36.27 and a beta of 1.17. The stock has a 50 day moving average price of $196.02 and a 200 day moving average price of $188.73. Ligand Pharmaceuticals has a 52-week low of $93.58 and a 52-week high of $227.92.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, February 26th. The biotechnology company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.46 by $0.56. Ligand Pharmaceuticals had a return on equity of 13.86% and a net margin of 46.42%.The company had revenue of $59.67 million for the quarter, compared to the consensus estimate of $55.59 million. During the same period last year, the business posted $1.27 EPS. Ligand Pharmaceuticals’s quarterly revenue was up 39.5% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. Sell-side analysts expect that Ligand Pharmaceuticals will post 1.73 earnings per share for the current year.

Insider Activity

In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $206.35, for a total value of $1,031,750.00. Following the transaction, the insider directly owned 36,869 shares of the company’s stock, valued at approximately $7,607,918.15. The trade was a 11.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stephen L. Sabba sold 2,034 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $201.50, for a total value of $409,851.00. Following the transaction, the director directly owned 33,793 shares in the company, valued at approximately $6,809,289.50. The trade was a 5.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,858 shares of company stock worth $4,478,114 in the last quarter. 7.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC purchased a new stake in Ligand Pharmaceuticals in the third quarter valued at about $26,000. CIBC Private Wealth Group LLC grew its stake in shares of Ligand Pharmaceuticals by 86.3% during the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 69 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth about $31,000. Richardson Financial Services Inc. increased 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 valued at $37,000 after acquiring an additional 97 shares in the last quarter. Finally, USA Financial Formulas purchased a new position in shares of Ligand Pharmaceuticals in the 4th quarter valued at approximately $43,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Ligand Pharmaceuticals

Here are the key news stories impacting Ligand Pharmaceuticals this week:

• Positive Sentiment: Bank of America initiated coverage on Ligand with a Buy rating and $244 price target, highlighting a diversified royalty portfolio, high margins and attractive upside from recurring royalty streams. B of A initiates coverage
• Positive Sentiment: Coverage pickup across outlets (Seeking Alpha, Benzinga, Proactive) repeats the thesis that Ligand’s royalty model offers lower-risk exposure to biopharma growth and underpins the bullish analyst action. Seeking Alpha: BofA Buy
• Neutral Sentiment: Aggregate analyst sentiment remains constructive — services report an average rating of “Moderate Buy,” reflecting general analyst support but not unanimous conviction. Analyst consensus
• Negative Sentiment: Market dynamics: a broad sell‑off hit top breakout names and pressured LGND, producing a sharp intraday pullback on elevated volume — suggesting short‑term momentum and sector rotation, rather than company fundamentals, drove the move. MSN: Broad sell-off rattles Ligand

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.