Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $147.00 Consensus Price Target from Analysts

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has received a consensus rating of “Buy” from the six ratings firms that are covering the stock, MarketBeat.com reports. Six investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have covered the stock in the last year is $147.00.

Several research analysts have commented on LGND shares. Royal Bank of Canada raised their price objective on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. Barclays boosted their price target on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. Oppenheimer upped their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Benchmark restated a “buy” rating and set a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. Finally, HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, December 11th.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, Director John L. Lamattina sold 2,406 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the transaction, the director now directly owns 29,515 shares in the company, valued at $3,649,529.75. This represents a 7.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Octavio Espinoza sold 2,104 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $116.37, for a total value of $244,842.48. Following the transaction, the chief financial officer now owns 20,647 shares of the company’s stock, valued at approximately $2,402,691.39. The trade was a 9.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Institutional Trading of Ligand Pharmaceuticals

Large investors have recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in shares of Ligand Pharmaceuticals by 119.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company’s stock worth $43,000 after acquiring an additional 221 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Ligand Pharmaceuticals by 23.3% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 125 shares during the last quarter. US Bancorp DE raised its holdings in shares of Ligand Pharmaceuticals by 14.8% during the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock valued at $81,000 after buying an additional 98 shares during the last quarter. KBC Group NV raised its holdings in shares of Ligand Pharmaceuticals by 49.7% during the fourth quarter. KBC Group NV now owns 904 shares of the biotechnology company’s stock valued at $97,000 after buying an additional 300 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in Ligand Pharmaceuticals during the 4th quarter worth $172,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Down 1.2 %

LGND opened at $112.77 on Wednesday. Ligand Pharmaceuticals has a 52-week low of $67.72 and a 52-week high of $129.90. The company has a 50 day moving average of $114.23 and a two-hundred day moving average of $109.78. The company has a market cap of $2.13 billion, a P/E ratio of 44.93 and a beta of 1.04.

About Ligand Pharmaceuticals

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.