H.C. Wainwright analyst Joseph Pantginis reiterated a Buy rating on Ligand Pharma (LGND) today and set a price target of $281. The company’s shares closed on Friday at $154.46.
Pantginis wrote:
“Our thesis not only remains intact, but continues to be strengthened; follow the numbers. We believe that the shares’ recent weakness represent a unique opportunity, even in these volatile markets. We have covered the company since 2009 observing its significant evolution.”
According to TipRanks.com, Pantginis is ranked 0 out of 5 stars with an average return of -16.9% and a 27.1% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Checkpoint Therapeutics Inc, and Strata Skin Sciences Inc.
Ligand Pharma has an analyst consensus of Strong Buy, with a price target consensus of $244, implying a 58.0% upside from current levels. In a report issued on November 13, Stephens also maintained a Buy rating on the stock with a $200 price target.
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Ligand Pharma’s market cap is currently $3.26B and has a P/E ratio of 21.19. The company has a Price to Book ratio of 4.66.
Based on the recent corporate insider activity of 67 insiders, corporate insider sentiment is neutral on the stock. Last month, Charles Berkman, the SVP, GC & Sec of LGND bought 3,900 shares for a total of $65,462.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Ligand Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in developing or acquiring technologies that help pharmaceutical companies discover and develop medicines. Its products include evomela, IV voriconazole, duavee, viviant/conbriza, nexterone, and noxafil-IV. The company was founded by Ronald M. Evans in 1987 and is headquartered in San Diego, CA.
