HC Wainwright set a $169.00 price objective on Ligand Pharmaceuticals (NASDAQ:LGND) in a research note issued to investors on Wednesday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.
A number of other equities analysts have also recently commented on the stock. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a hold rating to a sell rating in a report on Tuesday. Deutsche Bank cut shares of Ligand Pharmaceuticals from a hold rating to a sell rating and set a $105.00 target price on the stock. in a report on Monday, November 20th. Craig Hallum reaffirmed a buy rating and issued a $170.00 target price (up from $160.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, November 15th. Finally, Roth Capital set a $158.00 target price on shares of Ligand Pharmaceuticals and gave the company a buy rating in a report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have issued 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 a consensus target price of $150.67.
Shares of Ligand Pharmaceuticals (NASDAQ LGND) traded up $0.63 during trading on Wednesday, hitting $142.09. 117,600 shares of the stock were exchanged, compared to its average volume of 229,567. The firm has a market cap of $3,000.00, a PE ratio of 205.93, a price-to-earnings-growth ratio of 1.52 and a beta of 0.91. Ligand Pharmaceuticals has a fifty-two week low of $95.08 and a fifty-two week high of $149.31. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05.
In related news, Director John W. Kozarich sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $141.71, for a total value of $708,550.00. Following the transaction, the director now directly owns 35,649 shares in the company, valued at approximately $5,051,819.79. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Matthew E. Korenberg sold 6,559 shares of Ligand Pharmaceuticals stock in a transaction on Friday, November 17th. The shares were 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 $1,162,006.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,753 shares of company stock worth $2,522,007. 8.30% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Harbor Advisors LLC purchased a new position in Ligand Pharmaceuticals in the 3rd quarter valued at $204,000. Round Table Services LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 3rd quarter worth $205,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Ligand Pharmaceuticals during the 3rd quarter worth $230,000. Riverhead Capital Management LLC boosted its position in shares of Ligand Pharmaceuticals by 99.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 1,798 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 898 shares in the last quarter. Finally, Ameritas Investment Partners Inc. boosted its position in shares of Ligand Pharmaceuticals by 9.4% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 1,799 shares of the biotechnology company’s stock worth $218,000 after purchasing an additional 154 shares in the last quarter.
Ligand Pharmaceuticals Company Profile
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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