Ligand Pharma (NASDAQ:LGND) Rating Reaffirmed
Professional analysts at ROTH Capital now has a $146.0 PT on Ligand Pharma (NASDAQ:LGND). ROTH Capital and their recent PT implies a potential upside of 30.53% from the company’s last stock close. The rating has been unveiled in a comprehensive report on Friday, 18 December.
From a total of 4 analysts covering Ligand Pharmaceuticals (NASDAQ:LGND) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN of the ratings are positive. The highest target price is $144 while the lowest target price is $93. The mean of all analyst targets is $119.25 with a 28.74% above today’s ($111.85) stock price. Ligand Pharmaceuticals was the topic of 6 analyst reports since September 3, 2015 according to the firm StockzIntelligence Inc. Roth Capital maintained shares on November 19 with “Buy” rating.
The stock increased 0.42% or $0.47 during the last trading session, striking $111.85. Approximately shares of stock traded hands. Ligand Pharmaceuticals Inc. (NASDAQ:LGND) has risen 32.82% since May 15, 2015 and is uptrending. It has outperformed by 36.63% the S&P500.
The overall sentiment of institutions has increased to 1.01 in Q2 2015. Its up 0.03, from 0.98 in 2015Q2. The ratio is positive, as 39 institutions have sold all the shares of Ligand Pharmaceuticals Inc. that they owned while 67 funds have taken shares off the table. 23 funds have purchased shares for the first time while 84 added to their positions. These institutions now hold 19.63 million shares or 9.77% less than the 21.75 million shares they owned in 2015Q2.
The Fund Cardinal Capital Management Llc Ct currently is holding shares equating to 4.71% of its total portfolio in Ligand Pharmaceuticals Inc. representing a total of 879,249 shares. Another fund,First Light Asset Management Llc, is holding a total of 57,571 shares equating to 2.44% of their holdings. Additionally, Oberweis Asset Management Inc has a 95,367 share stake in Ligand Pharmaceuticals Inc. which represents 2.38% of their total portfolio. The Fund, Conestoga Capital Advisors Llc, based out of Pennsylvania, has also built up a stake in the stock, which represents a total of 2.12% of their total portfolio. Finally Ashford Capital Management Inc, a fund which is based in the state of Delaware reported a total holdings of 103,220 shares.
Insider activity is a very important aspect to track on any stock. Going back to March 20, 2015, shareholders of Ligand Pharmaceuticals Inc. have witnessed 0 insider purchases, and a total of 6 sales equating to a net activity of approximately $10.21 million . Knott David M sold 49,800 shares worth approximately $4.79M. Higgins John L sold 4,666 shares worth approximately $516,946. Berkman Charles S sold 14,067 shares worth approximately $1.39 million. Foehr Matthew W sold 12,500 shares worth approximately $1.26 million. The company insider Herman Melanie J sold 4,125 shares worth $385,688.
Ligand Pharmaceuticals Incorporated is a biotechnology firm that operates with a business model focused on developing or acquiring revenue generating assets and coupling them with a lean corporate cost structure. The company has a market cap of $2.22 billion. The Company’s technology CAPTISOL is a formulation technology that has enabled seven United States Food and Drug Administration (FDA) approved products including Kyprolis and Noxafil-IV and is being developed in several clinical-stage partner programs. It has 9.36 P/E ratio.
According to Zacks Investment Research, “Ligand Pharmaceuticals Incorporated discovers, develops and markets new drugs that address critical unmet medical needs of patients in the areas of cancer, pain, skin diseases, men’s and women’s hormone-related diseases, osteoporosis, metabolic disorders, and cardiovascular and inflammatory diseases. Ligand’s proprietary drug discovery and development programs are based on its leadership position in gene transcription technology, primarily related to intracellular receptors.”