The stock of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) last traded at $82.04, up 9.02% from the previous session.
Data from the available sources indicates that Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) is covered by 6 analysts. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $135.00 and a low of $93.57, we find $104.86. Given the previous closing price of $75.25, this indicates a potential upside of 39.35 percent. LGND stock price is now 39.86% away from the 50-day moving average and 31.11% away from the 200-day moving average. The market capitalization of the company currently stands at $1.43B.
In total, 0 analysts have assigned it a hold rating, and 5 have given it a buy rating. Brokers who have rated the stock have averaged $111.38 as their price target over the next twelve months.
On February 04, 2021, H.C. Wainwright reiterated its ‘Buy’ rating on the stock by increasing its target price from $229 to quote $310, while ‘Barclays’ rates the stock as ‘Overweight’.
In other news, Espinoza Octavio, Chief Financial Officer sold 1,696 shares of the company’s stock on Nov 09. The stock was sold for $128,283 at an average price of $75.64. Upon completion of the transaction, the Chief Financial Officer now directly owns 8,857 shares in the company, valued at $0.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 16, Chief Executive Officer HIGGINS JOHN L sold 3,000 shares of the business’s stock. A total of $268,050 was realized by selling the stock at an average price of $89.35. This leaves the insider owning 364,180 shares of the company worth $29.88 million. Insiders disposed of 63,011 shares of company stock worth roughly $5.17 million over the past 1 year. A total of 5.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LGND stock. A new stake in Ligand Pharmaceuticals Incorporated shares was purchased by MARSHALL WACE, LLP during the first quarter worth $3,272,000. STATE OF NEW JERSEY COMMON PENSION FUND D invested $1,914,000 in shares of LGND during the first quarter. In the first quarter, GREAT WEST LIFE ASSURANCE CO /CAN/ acquired a new stake in Ligand Pharmaceuticals Incorporated valued at approximately $1,688,000. TWO SIGMA INVESTMENTS, LP acquired a new stake in LGND for approximately $1,639,000. RENAISSANCE TECHNOLOGIES LLC purchased a new stake in LGND valued at around $1,476,000 in the second quarter. In total, there are 306 active investors with 91.00% ownership of the company’s stock.
With an opening price of $77.77 on Thursday morning, Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) set off the trading day. During the past 12 months, Ligand Pharmaceuticals Incorporated has had a low of $46.83 and a high of $109.68. As of last week, the company has a debt-to-equity ratio of 0.14, a current ratio of 1.50, and a quick ratio of 1.30. The fifty day moving average price for LGND is $56.97 and a two-hundred day moving average price translates $60.56 for the stock.
The latest earnings results from Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at $1.03, beating analysts’ expectations of $0.43 by 0.6. This compares to $0.80 EPS in the same period last year. The net profit margin was -3.30% and return on equity was -1.00% for LGND. The company reported revenue of $66.09 million for the quarter, compared to $64.83 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 1.93 percent. For the current quarter, analysts expect LGND to generate $38.28M in revenue.
Ligand Pharmaceuticals Incorporated(LGND) Company Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children. The company also offers Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; and Nexterone, a captisol-enabled formulation of amiodarone; and Zulresso, a captisol-enabled formulation of brexanolone for the treatment of postpartum depression. In addition, it provides Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Duavee 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; Bryxta and Zybev for various indications; and Minnebro for the treatment of hypertension. The company’s partners and licenses programs, which are in clinical development used for the treatment of cancer, seizure, diabetes, cardiovascular disease, muscle wasting, liver and kidney disease, and other diseases. Further, it sells Captisol materials. The company was incorporated in 1987 and is based in San Diego, California.