Ligand Pharmaceuticals (NASDAQ:LGND) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Ligand Pharmaceuticals (NASDAQ:LGND) from a sell rating to a hold rating in a research note published on Tuesday morning.

Other analysts have also issued research reports about the company. HC Wainwright reiterated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Wednesday, December 11th. Royal Bank of Canada raised their target price on Ligand Pharmaceuticals from $141.00 to $143.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Barclays raised their target price 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, Benchmark restated a “buy” rating and issued a $135.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.00.

Ligand Pharmaceuticals Trading Up 1.3 %

Shares of LGND opened at $109.41 on Tuesday. Ligand Pharmaceuticals has a 12 month low of $67.72 and a 12 month high of $129.90. The stock has a fifty day moving average price of $114.18 and a 200-day moving average price of $111.73. The firm has a market cap of $2.11 billion, a PE ratio of 43.59 and a beta of 1.12.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $115.03, for a total transaction of $575,150.00. Following the completion of the transaction, the chief financial officer now owns 18,879 shares in the company, valued at approximately $2,171,651.37. This trade represents a 20.94 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 5.90% of the company’s stock.

Institutional Investors Weigh In On Ligand Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. Yousif Capital Management LLC grew its position in shares of Ligand Pharmaceuticals by 1.4% during the 4th quarter. Yousif Capital Management LLC now owns 7,193 shares of the biotechnology company’s stock valued at $771,000 after acquiring an additional 96 shares during the period. US Bancorp DE grew its position in shares of Ligand Pharmaceuticals by 14.8% during the 4th quarter. US Bancorp DE now owns 758 shares of the biotechnology company’s stock valued at $81,000 after acquiring an additional 98 shares during the period. Mutual of America Capital Management LLC grew its position in shares of Ligand Pharmaceuticals by 4.2% during the 4th quarter. Mutual of America Capital Management LLC now owns 2,862 shares of the biotechnology company’s stock valued at $307,000 after acquiring an additional 115 shares during the period. Arizona State Retirement System grew its position in shares of Ligand Pharmaceuticals by 2.4% during the 4th quarter. Arizona State Retirement System now owns 5,297 shares of the biotechnology company’s stock valued at $568,000 after acquiring an additional 125 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Ligand Pharmaceuticals by 3.3% during the 4th quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 4,034 shares of the biotechnology company’s stock valued at $432,000 after acquiring an additional 129 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

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.