Ligand Pharmaceuticals Incorporated (LGND) Stock Rating Lowered by BidaskClub

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday, August 1st.

A number of other equities research analysts also recently weighed in on the company. Deutsche Bank AG restated a “hold” rating and set 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 upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine upgraded 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 objective on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, May 22nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Ligand Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $133.71.

Ligand Pharmaceuticals (NASDAQ:LGND) opened at 126.26 on Tuesday. Ligand Pharmaceuticals has a 52 week low of $87.50 and a 52 week high of $129.94. The company has a market cap of $2.66 billion, a PE ratio of 307.95 and a beta of 0.96. The company’s 50-day moving average price is $122.18 and its 200 day moving average price is $112.68.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.42. The company had revenue of $28 million during the quarter, compared to the consensus estimate of $24.40 million. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The firm’s quarterly revenue was up 43.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, analysts anticipate that Ligand Pharmaceuticals will post $2.95 EPS for the current year.

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In other Ligand Pharmaceuticals news, insider Matthew W. Foehr sold 6,100 shares of the business’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $127.51, for a total value of $777,811.00. Following the completion of the transaction, the insider now directly owns 101,020 shares of the company’s stock, valued at $12,881,060.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Charles S. Berkman sold 18,625 shares of the business’s stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $126.96, for a total value of $2,364,630.00. Following the completion of the sale, the vice president now owns 24,423 shares in the company, valued at $3,100,744.08. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,874 shares of company stock valued at $5,766,176. Insiders own 14.70% of the company’s stock.

Large investors have recently modified their holdings of the stock. Tyers Asset Management LLC increased its stake in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock worth $110,000 after buying an additional 196 shares in the last quarter. LS Investment Advisors LLC boosted its position in shares of Ligand Pharmaceuticals by 43.2% in the first quarter. LS Investment Advisors LLC now owns 1,197 shares of the biotechnology company’s stock worth $127,000 after buying an additional 361 shares during the last quarter. Flinton Capital Management LLC raised its position in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Flinton Capital Management LLC now owns 1,258 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 238 shares in the last quarter. Strs Ohio raised its position in shares of Ligand Pharmaceuticals by 225.0% in the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 900 shares in the last quarter. Finally, First Mercantile Trust Co. raised its position in shares of Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 20 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.

Analyst Recommendations for Ligand Pharmaceuticals (NASDAQ:LGND)

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