Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Receives $147.00 Average Target Price from Brokerages

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

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

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the 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 sale, the director now owns 29,515 shares in the company, valued at approximately $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 can be accessed through this link. Also, CFO Octavio Espinoza sold 2,104 shares of the stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $116.37, for a total value of $244,842.48. Following the sale, the chief financial officer now owns 20,647 shares in the company, valued at approximately $2,402,691.39. This trade represents a 9.25 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Headlands Technologies LLC lifted its stake in shares of Ligand Pharmaceuticals by 21.7% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 135 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ligand Pharmaceuticals by 23.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 125 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Ligand Pharmaceuticals during the 2nd quarter worth $67,000. Ashton Thomas Private Wealth LLC purchased a new position in shares of Ligand Pharmaceuticals during the 2nd quarter worth $159,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Ligand Pharmaceuticals during the 3rd quarter worth $180,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Trading Down 0.4 %

Shares of NASDAQ:LGND opened at $105.86 on Friday. The company has a market capitalization of $2.00 billion, a PE ratio of 42.18 and a beta of 1.05. Ligand Pharmaceuticals has a twelve month low of $67.53 and a twelve month high of $129.90. The firm has a 50 day simple moving average of $115.95 and a 200-day simple moving average of $106.62.

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.