BMO Capital Markets equity research analysts have begun covering stocks of Ligand Pharmaceuticals (NASDAQ:LGND – Get a rating) in a research note delivered to investors on Thursday, Fly reports. The brokerage has set an “outperform” rating for shares of the biotech company.
Several other brokerages have also recently weighed in on LGND. StockNews.com downgraded Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a report released Wednesday. Stephens cut his price target on Ligand Pharmaceuticals shares to $130.00 and set an “na” rating for the company in a research report on Monday, May 16. Craig Hallum cut his price target on Ligand Pharmaceuticals shares from $215.00 to $160.00 in a Thursday, May 5 research report. The benchmark cut its price target on Ligand Pharmaceuticals shares from $180.00 to $130.00 and set a “buy” rating for the company in a Tuesday, February 22 research report. Finally, Barclays lowered its price target on Ligand Pharmaceuticals shares from $185.00 to $165.00 and set an “overweight” rating on the stock in a Friday, February 18 research note. One analyst rated the stock with a sell rating and five gave the company a buy rating. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $180.83.
NASDAQ:LGND traded down $3.27 in Thursday’s midday session, hitting $75.81. The company had a trading volume of 6,835 shares, compared to an average volume of 155,968. Ligand Pharmaceuticals has a 12-month low of $72.57 and a 12-month high of $169.98. The company has a current ratio of 6.48, a quick ratio of 5.88 and a debt ratio of 0.22. The company has a market capitalization of $1.28 billion, a price/earnings ratio of 54.94, a PEG ratio of 12.44 and a beta of 1.22. The stock’s fifty-day simple moving average is $90.60 and its 200-day simple moving average is $113.60.
Ligand Pharmaceuticals (NASDAQ:LGND – Get a rating) last reported quarterly earnings data on Wednesday, May 4. The biotech company reported earnings per share of $0.15 for the quarter, missing consensus analyst estimates of $0.19 per ($0.04). The company posted revenue of $45.70 million in the quarter, compared to $34.21 million expected by analysts. Ligand Pharmaceuticals had a net margin of 9.00% and a return on equity of 8.29%. Ligand Pharmaceuticals revenue for the quarter decreased 17.2% compared to the same quarter last year. During the same period a year earlier, the company posted EPS of $1.03. As a group, sell-side analysts expect Ligand Pharmaceuticals to post year-to-date EPS of 0.43.
In other news, COO Matthew W. Foehr bought 2,500 shares in a trade on Friday, May 13. The shares were purchased at an average price of $82.76 per share, with a total value of $206,900.00. After the purchase was completed, the COO now owns 173,354 shares of the company, valued at $14,346,777.04. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Company insiders own 10.40% of the company’s shares.
Institutional investors have recently increased or reduced their stake in the stock. Norges Bank acquired a new stake in the shares of Ligand Pharmaceuticals during the 4th quarter for a value of approximately $18,915,000. Chicago Capital LLC increased its stake in Ligand Pharmaceuticals by 12.7% in the 1st quarter. Chicago Capital LLC now owns 491,717 shares of the biotech company valued at $55,313,000 after purchasing an additional 55,261 shares during the period. Point72 Asset Management LP purchased a new stake in shares of Ligand Pharmaceuticals during Q4, valued at approximately $8,356,000. Impax Asset Management Group plc increased its holdings of Ligand Pharmaceuticals shares by 35.7% during the fourth quarter. Impax Asset Management Group plc now owns 134,820 shares of the biotech company valued at $20,824,000 after buying an additional 35,500 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in Ligand Pharmaceuticals by 45.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 87,876 shares of the biotech company worth $13,574,000 after acquiring 27,519 additional shares in the last quarter. 96.61% of the shares are held by institutional investors and hedge funds.
About Ligand Pharmaceuticals (Get a rating)
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, is focused on developing or acquiring technologies that help pharmaceutical companies discover and develop drugs around the world. 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 diseases caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight pneumococcal pneumonia in children.
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