Media coverage about Ligand Pharmaceuticals (NASDAQ:LGND) has trended positive on Sunday, according to Accern Sentiment. The research firm identifies negative and positive news coverage by reviewing more than 20 million news and blog sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Ligand Pharmaceuticals earned a news impact score of 0.34 on Accern’s scale. Accern also assigned media stories about the biotechnology company an impact score of 100 out of 100, indicating that recent news coverage is extremely likely to have an impact on the company’s share price in the near term.
A number of research firms recently issued reports on LGND. BidaskClub downgraded Ligand Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 19th. Deutsche Bank AG reaffirmed a “hold” rating and issued a $103.00 target price (up previously from $100.00) on shares of Ligand Pharmaceuticals in a research report on Monday, July 17th. Zacks Investment Research raised Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Roth Capital set a $120.00 price target on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research report on Monday, May 22nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Ligand Pharmaceuticals currently has an average rating of “Buy” and a consensus target price of $130.18.
Shares of Ligand Pharmaceuticals (LGND) traded down 0.32% during midday trading on Friday, hitting $121.26. The stock had a trading volume of 93,870 shares. Ligand Pharmaceuticals has a 52 week low of $87.50 and a 52 week high of $139.79. The company’s market cap is $2.55 billion. The stock’s 50-day moving average price is $119.38 and its 200 day moving average price is $110.48.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported $0.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.55 by $0.16. Ligand Pharmaceuticals had a positive return on equity of 2.57% and a negative net margin of 2.91%. The company had revenue of $29.27 million for the quarter, compared to analysts’ expectations of $30.25 million. During the same quarter in the previous year, the business earned $0.63 EPS. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Ligand Pharmaceuticals will post $2.66 earnings per share for the current year.
In related news, Director Jason Aryeh sold 37,247 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $110.76, for a total value of $4,125,477.72. Following the completion of the transaction, the director now directly owns 58,959 shares in the company, valued at approximately $6,530,298.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John L. Higgins sold 12,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $114.87, for a total transaction of $1,378,440.00. Following the completion of the transaction, the chief executive officer now owns 151,171 shares of the company’s stock, valued at $17,365,012.77. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,534 shares of company stock valued at $6,694,514. 14.70% of the stock is currently owned by company insiders.
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About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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