Other research analysts have also recently issued research reports about the company. Barclays raised Ligand Pharmaceuticals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $110.00 to $132.00 in a research note on Thursday, September 19th. HC Wainwright reaffirmed a “buy” rating and set a $214.00 price objective on shares of Ligand Pharmaceuticals in a research note on Friday, January 3rd. Finally, ValuEngine raised Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $152.20.
LGND traded down $2.22 during trading on Wednesday, reaching $93.47. The stock had a trading volume of 25,476 shares, compared to its average volume of 234,038. The stock has a market cap of $1.67 billion, a PE ratio of 14.89, a PEG ratio of 1.66 and a beta of 1.23. The company has a debt-to-equity ratio of 0.75, a quick ratio of 32.96 and a current ratio of 33.15. Ligand Pharmaceuticals has a one year low of $84.45 and a one year high of $140.91. The business has a 50-day moving average of $106.80 and a 200-day moving average of $104.38.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings results on Tuesday, November 5th. The biotechnology company reported $0.49 EPS for the quarter, missing the Zacks’ consensus estimate of $0.61 by ($0.12). The firm had revenue of $24.81 million during the quarter, compared to the consensus estimate of $22.49 million. Ligand Pharmaceuticals had a net margin of 388.69% and a return on equity of 7.47%. The firm’s revenue was down 45.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.32 EPS. Equities research analysts forecast that Ligand Pharmaceuticals will post 2.08 EPS for the current fiscal year.
Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC grew its stake in shares of Ligand Pharmaceuticals by 188.6% in the second quarter. Tower Research Capital LLC TRC now owns 228 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 149 shares during the last quarter. Quest Capital Management Inc. ADV bought a new stake in shares of Ligand Pharmaceuticals in the third quarter worth about $27,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of Ligand Pharmaceuticals by 1,763.6% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 410 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 388 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Ligand Pharmaceuticals in the second quarter worth about $51,000. Finally, NumerixS Investment Technologies Inc bought a new stake in shares of Ligand Pharmaceuticals in the second quarter worth about $68,000.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; Aziyo portfolio of commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
Further Reading: Risk Tolerance
Receive News & Ratings for Ligand Pharmaceuticals Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com’s FREE daily email newsletter.