HC Wainwright Increases Ligand Pharmaceuticals (NASDAQ:LGND) Price Target to $231.00

Ligand Pharmaceuticals (NASDAQ:LGND) had its target price hoisted by HC Wainwright from $206.00 to $231.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. HC Wainwright’s price target points to a potential upside of 10.02% from the company’s current price.

Other equities analysts have also issued reports about the company. Wall Street Zen raised Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Royal Bank Of Canada upped their price target on shares of Ligand Pharmaceuticals from $155.00 to $185.00 and gave the stock an “outperform” rating in a research report on Friday, August 8th. Benchmark boosted their price objective on Ligand Pharmaceuticals from $160.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, September 2nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 8th. Finally, Oppenheimer upped their price target on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday. Six analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $190.67.

Ligand Pharmaceuticals Trading Up 10.3%

Shares of NASDAQ LGND traded up $19.58 during trading on Thursday, reaching $209.96. The company had a trading volume of 318,093 shares, compared to its average volume of 157,681. The stock has a market capitalization of $4.11 billion, a PE ratio of -52.65 and a beta of 0.91. Ligand Pharmaceuticals has a twelve month low of $93.58 and a twelve month high of $210.00. The stock has a 50-day moving average price of $176.20 and a two-hundred day moving average price of $140.49.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $1.13. Ligand Pharmaceuticals had a negative net margin of 40.44% and a negative return on equity of 9.21%. The company had revenue of $86.89 million for the quarter, compared to analysts’ expectations of $58.71 million. During the same period last year, the company earned $1.84 EPS. The firm’s revenue for the quarter was up 123.0% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. On average, sell-side analysts predict that Ligand Pharmaceuticals will post 1.73 EPS for the current year.

Insiders Place Their Bets

In related news, Director John W. Kozarich sold 467 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $191.05, for a total value of $89,220.35. Following the completion of the sale, the director directly owned 44,588 shares in the company, valued at approximately $8,518,537.40. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jason Aryeh sold 10,000 shares of the company’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $170.81, for a total value of $1,708,100.00. Following the completion of the transaction, the director owned 69,289 shares of the company’s stock, valued at $11,835,254.09. The trade was a 12.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 11,401 shares of company stock valued at $1,956,894 in the last three months. Company insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On Ligand Pharmaceuticals

A number of institutional investors and hedge funds have recently made changes to their positions in LGND. Cibc World Market Inc. grew its stake in shares of Ligand Pharmaceuticals by 11.7% in the third quarter. Cibc World Market Inc. now owns 59,131 shares of the biotechnology company’s stock valued at $10,474,000 after buying an additional 6,209 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new position in Ligand Pharmaceuticals during the third quarter worth about $361,000. Essex Investment Management Co. LLC raised its position in shares of Ligand Pharmaceuticals by 0.5% in the third quarter. Essex Investment Management Co. LLC now owns 61,142 shares of the biotechnology company’s stock valued at $10,831,000 after buying an additional 332 shares in the last quarter. Profund Advisors LLC raised its stake in Ligand Pharmaceuticals by 9.0% in the third quarter. Profund Advisors LLC now owns 2,653 shares of the biotechnology company’s stock valued at $470,000 after purchasing an additional 218 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Ligand Pharmaceuticals by 31.6% during the third quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 65 shares during the period. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.