Ligand Pharmaceuticals’ (LGND) “Buy” Rating Reiterated at Benchmark

Ligand Pharmaceuticals (NASDAQ:LGND)‘s stock had its “buy” rating reaffirmed by research analysts at Benchmark in a research note issued on Monday,Benzinga reports. They currently have a $135.00 price objective on the biotechnology company’s stock. Benchmark’s target price points to a potential upside of 17.76% from the company’s current price.

Other research analysts have also issued research reports about the company. 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 report on Wednesday, December 11th. Barclays increased their price objective on shares of Ligand Pharmaceuticals from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, December 16th. Oppenheimer boosted their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, HC Wainwright reissued a “buy” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 11th. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of “Buy” and an average price target of $147.00.

Ligand Pharmaceuticals Stock Up 0.6 %

LGND opened at $114.64 on Monday. The firm’s fifty day simple moving average is $115.47 and its two-hundred day simple moving average is $103.48. Ligand Pharmaceuticals has a 52-week low of $67.53 and a 52-week high of $129.90. The company has a market cap of $2.17 billion, a price-to-earnings ratio of 45.67 and a beta of 1.01.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 2,406 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 29,515 shares in the company, valued at $3,649,529.75. The trade was a 7.54 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Several large investors have recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in Ligand Pharmaceuticals during the 2nd quarter worth about $31,000. Rothschild Investment LLC purchased a new stake in Ligand Pharmaceuticals during the second quarter worth approximately $34,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in 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 purchasing an additional 125 shares in the last quarter. Headlands Technologies LLC increased its stake in 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 purchasing an additional 135 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Ligand Pharmaceuticals during the second quarter worth approximately $67,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Company Profile

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.