Ligand Pharmaceuticals (NASDAQ:LGND) Given New $150.00 Price Target at Barclays

Ligand Pharmaceuticals (NASDAQ:LGND) had its target price boosted by Barclays from $125.00 to $150.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

Other equities analysts have also recently issued research reports about the company. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. Oppenheimer raised their target price on Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an “outperform” rating in a report on Friday. Benchmark upped their price target on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, HC Wainwright reiterated a “buy” rating and issued a $157.00 price target on shares of Ligand Pharmaceuticals in a report on Friday. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $143.17.

Ligand Pharmaceuticals Trading Up 1.8 %

Ligand Pharmaceuticals stock opened at $123.47 on Friday. The stock has a 50 day moving average of $105.93 and a two-hundred day moving average of $95.94. Ligand Pharmaceuticals has a twelve month low of $55.02 and a twelve month high of $129.90. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 49.19 and a beta of 0.99.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, COO Matthew E. Korenberg sold 1,157 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $105.54, for a total transaction of $122,109.78. Following the completion of the sale, the chief operating officer now owns 67,211 shares of the company’s stock, valued at approximately $7,093,448.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 1,157 shares of Ligand Pharmaceuticals stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $105.54, for a total value of $122,109.78. Following the completion of the transaction, the chief operating officer now owns 67,211 shares of the company’s stock, valued at $7,093,448.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Matthew E. Korenberg sold 11,389 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $105.61, for a total value of $1,202,792.29. Following the completion of the transaction, the chief operating officer now owns 49,510 shares of the company’s stock, valued at approximately $5,228,751.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,368 shares of company stock valued at $3,458,560 over the last 90 days. 5.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Ligand Pharmaceuticals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Innealta Capital LLC acquired a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $31,000. Rothschild Investment LLC purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter valued at $34,000. Headlands Technologies LLC boosted its position in shares of Ligand Pharmaceuticals by 21.7% in the 2nd 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 period. Mirae Asset Global Investments Co. Ltd. increased its stake in Ligand Pharmaceuticals by 23.3% in 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 in the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in Ligand Pharmaceuticals during the 2nd quarter worth about $67,000. 91.28% of the stock is currently owned by institutional investors.

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.