Ligand Pharmaceuticals (LGND) Rating Increased to Strong-Buy at BidaskClub

Ligand Pharmaceuticals (NASDAQ:LGND) was upgraded by equities research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

A number of other research firms also recently weighed in on LGND. Craig Hallum restated a “buy” rating and issued a $230.00 price objective on shares of Ligand Pharmaceuticals in a report on Wednesday. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday, June 6th. Argus began coverage on Ligand Pharmaceuticals in a report on Thursday, June 21st. They issued a “buy” rating for the company. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Thursday. Finally, TheStreet upgraded Ligand Pharmaceuticals from a “c+” rating to an “a-” rating in a report on Wednesday, May 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $166.00.

Ligand Pharmaceuticals opened at $207.17 on Thursday, according to Marketbeat. The firm has a market capitalization of $4.43 billion, a P/E ratio of 80.61, a P/E/G ratio of 1.92 and a beta of 0.96. Ligand Pharmaceuticals has a twelve month low of $115.40 and a twelve month high of $212.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.41 and a quick ratio of 1.37.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported $1.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.26. The business had revenue of $56.16 million during the quarter, compared to the consensus estimate of $43.02 million. Ligand Pharmaceuticals had a return on equity of 19.10% and a net margin of 31.40%. Ligand Pharmaceuticals’s quarterly revenue was up 91.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. sell-side analysts anticipate that Ligand Pharmaceuticals will post 4.33 EPS for the current fiscal year.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 12,405 shares of the stock in a transaction dated Tuesday, May 15th. The stock was sold at an average price of $179.97, for a total transaction of $2,232,527.85. Following the completion of the sale, the chief executive officer now directly owns 119,824 shares in the company, valued at approximately $21,564,725.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Matthew W. Foehr sold 8,881 shares of the stock in a transaction dated Thursday, May 10th. The stock was sold at an average price of $167.63, for a total value of $1,488,722.03. Following the sale, the insider now owns 110,082 shares of the company’s stock, valued at $18,453,045.66. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,786 shares of company stock valued at $4,900,365. Company insiders own 7.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. grew its holdings in Ligand Pharmaceuticals by 0.6% during the 1st quarter. BlackRock Inc. now owns 3,013,829 shares of the biotechnology company’s stock worth $497,763,000 after acquiring an additional 16,869 shares during the period. Summit Trail Advisors LLC grew its holdings in Ligand Pharmaceuticals by 14,496.1% during the 1st quarter. Summit Trail Advisors LLC now owns 1,948,730 shares of the biotechnology company’s stock worth $1,949,000 after acquiring an additional 1,935,379 shares during the period. William Blair Investment Management LLC grew its holdings in Ligand Pharmaceuticals by 8.1% during the 4th quarter. William Blair Investment Management LLC now owns 1,240,071 shares of the biotechnology company’s stock worth $169,803,000 after acquiring an additional 92,695 shares during the period. Cardinal Capital Management LLC CT grew its holdings in Ligand Pharmaceuticals by 5.0% during the 4th quarter. Cardinal Capital Management LLC CT now owns 654,346 shares of the biotechnology company’s stock worth $89,599,000 after acquiring an additional 31,005 shares during the period. Finally, Glenmede Trust Co. NA grew its holdings in Ligand Pharmaceuticals by 25.6% during the 4th quarter. Glenmede Trust Co. NA now owns 392,932 shares of the biotechnology company’s stock worth $53,801,000 after acquiring an additional 80,040 shares during the period.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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