Ligand Pharmaceuticals (NASDAQ:LGND) Given New $140.00 Price Target at Royal Bank of Canada

Ligand Pharmaceuticals (NASDAQ:LGND) had its price objective increased by Royal Bank of Canada from $130.00 to $140.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

LGND has been the topic of several other research reports. Benchmark boosted their price target on shares of Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Oppenheimer boosted their target price on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Barclays lifted their price target on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $157.00 price objective on shares of Ligand Pharmaceuticals in a research note on Friday, November 8th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Ligand Pharmaceuticals currently has a consensus rating of “Buy” and a consensus target price of $144.83.

Ligand Pharmaceuticals Trading Down 3.2 %

NASDAQ:LGND opened at $111.71 on Tuesday. The business’s 50-day moving average is $107.17 and its 200 day moving average is $96.89. Ligand Pharmaceuticals has a 12 month low of $55.30 and a 12 month high of $129.90. The company has a market capitalization of $2.11 billion, a P/E ratio of 44.51 and a beta of 0.99.

Insider Activity

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 1,275 shares of Ligand Pharmaceuticals stock in a transaction on Friday, September 20th. The stock was sold at an average price of $103.94, for a total transaction of $132,523.50. Following the completion of the sale, the chief financial officer now directly owns 24,610 shares of the company’s stock, valued at $2,557,963.40. The trade was a 4.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Matthew E. Korenberg sold 1,157 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $105.54, for a total value 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 $7,093,448.94. This represents a 1.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 33,368 shares of company stock valued at $3,458,560. 5.90% of the stock is currently owned by company insiders.

Institutional Trading of Ligand Pharmaceuticals

Institutional investors and hedge funds have recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $31,000. Rothschild Investment LLC purchased a new position in Ligand Pharmaceuticals in the second quarter worth $34,000. Headlands Technologies LLC increased its position in shares of Ligand Pharmaceuticals by 21.7% during the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 135 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ligand Pharmaceuticals by 23.3% during the third 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. purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $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.