Ligand Pharmaceuticals Incorporated (LGND) Cut to Sell at Deutsche Bank AG

Deutsche Bank AG cut shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) from a hold rating to a sell rating in a report released on Monday morning. They currently have $105.00 price objective on the biotechnology company’s stock.

A number of other analysts also recently weighed in on the stock. HC Wainwright reaffirmed a buy rating and issued a $150.00 target price on shares of Ligand Pharmaceuticals in a research report on Tuesday, September 5th. Zacks Investment Research raised shares of Ligand Pharmaceuticals from a hold rating to a strong-buy rating and set a $165.00 target price on the stock in a research report on Thursday, October 12th. Roth Capital reaffirmed a buy rating and issued a $158.00 target price (up from $135.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, October 11th. Stephens reaffirmed an overweight rating and issued a $137.00 target price (up from $125.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 9th. Finally, TheStreet raised shares of Ligand Pharmaceuticals from a c rating to a b- rating in a research report on Monday, August 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Ligand Pharmaceuticals has an average rating of Buy and an average price target of $149.00.

Shares of Ligand Pharmaceuticals (NASDAQ:LGND) opened at $133.06 on Monday. The firm has a market cap of $2,744.34, a PE ratio of 97.77, a PEG ratio of 2.01 and a beta of 0.94. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95. Ligand Pharmaceuticals has a 1 year low of $95.08 and a 1 year high of $149.31.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.32. The firm had revenue of $33.38 million for the quarter, compared to the consensus estimate of $31.04 million. Ligand Pharmaceuticals had a net margin of 12.76% and a return on equity of 7.83%. The company’s revenue was up 54.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. research analysts anticipate that Ligand Pharmaceuticals will post 2.35 earnings per share for the current fiscal year.

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In related news, CEO John L. Higgins sold 5,000 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $130.00, for a total value of $650,000.00. Following the transaction, the chief executive officer now owns 144,171 shares in the company, valued at approximately $18,742,230. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Matthew E. Korenberg sold 6,559 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $142.63, for a total transaction of $935,510.17. Following the completion of the transaction, the vice president now owns 8,147 shares in the company, valued at approximately $1,162,006.61. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,828 shares of company stock worth $3,045,051. 8.30% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in LGND. Teachers Advisors LLC boosted its stake in Ligand Pharmaceuticals by 5.3% in the 1st quarter. Teachers Advisors LLC now owns 32,825 shares of the biotechnology company’s stock worth $3,474,000 after purchasing an additional 1,657 shares in the last quarter. Nuveen Asset Management LLC bought a new position in Ligand Pharmaceuticals in the 1st quarter worth about $763,000. Capstone Asset Management Co. boosted its stake in Ligand Pharmaceuticals by 3.7% in the 2nd quarter. Capstone Asset Management Co. now owns 2,813 shares of the biotechnology company’s stock worth $341,000 after purchasing an additional 100 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in Ligand Pharmaceuticals by 78.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 3,757 shares of the biotechnology company’s stock worth $456,000 after purchasing an additional 1,657 shares in the last quarter. Finally, Louisiana State Employees Retirement System boosted its stake in Ligand Pharmaceuticals by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the biotechnology company’s stock worth $947,000 after purchasing an additional 100 shares in the last quarter.

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.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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