Ligand Pharmaceuticals (NASDAQ:LGND) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, BidAskClub reports.
A number of other equities research analysts have also recently weighed in on LGND. Roth Capital lowered their price target on Ligand Pharmaceuticals from to and set a “buy” rating on the stock in a report on Monday, February 10th. HC Wainwright restated a “buy” rating and issued a $237.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, February 12th. Benchmark restated a “buy” rating and issued a $135.00 price target on shares of Ligand Pharmaceuticals in a report on Friday, February 28th. Argus cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Guggenheim assumed coverage on Ligand Pharmaceuticals in a report on Monday, March 9th. They issued a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $153.17.
Shares of LGND stock opened at $72.92 on Friday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 2.49, a price-to-earnings-growth ratio of 2.18 and a beta of 1.18. The stock has a 50 day simple moving average of $92.32 and a 200-day simple moving average of $99.90. Ligand Pharmaceuticals has a 12-month low of $57.24 and a 12-month high of $130.50. The company has a current ratio of 66.09, a quick ratio of 65.66 and a debt-to-equity ratio of 0.85.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, February 6th. The biotechnology company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.07. The business had revenue of $27.00 million during the quarter, compared to the consensus estimate of $25.30 million. Ligand Pharmaceuticals had a return on equity of 4.34% and a net margin of 523.19%. The company’s revenue for the quarter was down 54.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.70 EPS. On average, equities analysts forecast that Ligand Pharmaceuticals will post 2.27 earnings per share for the current fiscal year.
In related news, COO Matthew W. Foehr sold 7,225 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $110.00, for a total value of $794,750.00. Following the sale, the chief operating officer now owns 160,968 shares in the company, valued at approximately $17,706,480. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.40% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LGND. FSA Wealth Management LLC acquired a new stake in Ligand Pharmaceuticals during the 4th quarter valued at $26,000. Verus Capital Partners LLC acquired a new stake in Ligand Pharmaceuticals during the 4th quarter valued at $63,000. PNC Financial Services Group Inc. grew its holdings in Ligand Pharmaceuticals by 14.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,248 shares of the biotechnology company’s stock valued at $129,000 after buying an additional 159 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Ligand Pharmaceuticals by 18.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,260 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 200 shares during the last quarter. Finally, LS Investment Advisors LLC grew its holdings in Ligand Pharmaceuticals by 41.5% during the 4th quarter. LS Investment Advisors LLC now owns 1,993 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 585 shares during the last quarter.
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; Aziyo portfolio of 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.
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