Benchmark Reiterates “Buy” Rating for Ligand Pharmaceuticals (NASDAQ:LGND)

Ligand Pharmaceuticals (NASDAQ:LGND)‘s stock had its “buy” rating reissued by equities researchers at Benchmark in a report released on Monday,Benzinga reports. They currently have a $135.00 price objective on the biotechnology company’s stock. Benchmark’s price target suggests a potential upside of 19.07% from the company’s current price.

A number of other analysts also recently issued reports on LGND. Royal Bank of Canada lifted their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the company an “outperform” rating in a research report on Wednesday, December 11th. HC Wainwright reaffirmed a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Barclays upped their price objective on Ligand Pharmaceuticals from $150.00 to $160.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Oppenheimer raised 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. Six research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $147.00.

Ligand Pharmaceuticals Trading Down 0.4 %

Shares of LGND stock opened at $113.38 on Monday. The firm’s fifty day moving average price is $115.86 and its two-hundred day moving average price is $103.93. Ligand Pharmaceuticals has a 1 year low of $67.53 and a 1 year high of $129.90. The firm has a market capitalization of $2.14 billion, a P/E ratio of 45.17 and a beta of 1.01.

Insider Transactions at Ligand Pharmaceuticals

In related news, Director John L. Lamattina sold 2,406 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $123.65, for a total transaction of $297,501.90. Following the completion of the sale, the director now owns 29,515 shares of the company’s stock, valued at approximately $3,649,529.75. The trade was a 7.54 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Woodstock Corp increased its position in Ligand Pharmaceuticals by 0.3% during the third quarter. Woodstock Corp now owns 29,211 shares of the biotechnology company’s stock worth $2,924,000 after acquiring an additional 100 shares during the period. Creative Planning increased its holdings in shares of Ligand Pharmaceuticals by 4.0% during the third quarter. Creative Planning now owns 2,896 shares of the biotechnology company’s stock worth $290,000 after purchasing an additional 111 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Ligand Pharmaceuticals by 23.3% in 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 in the last quarter. Headlands Technologies LLC raised its position in shares of Ligand Pharmaceuticals by 21.7% in the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 135 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of Ligand Pharmaceuticals by 3.4% in the second quarter. Arizona State Retirement System now owns 4,708 shares of the biotechnology company’s stock valued at $397,000 after buying an additional 156 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

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.