Ligand Pharma (LGND) Received its Third Buy in a Row


After Argus Research and Roth Capital gave Ligand Pharma (NASDAQ: LGND) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Joseph Pantginis reiterated a Buy rating on Ligand Pharma today and set a price target of $237.00. The company’s shares closed last Monday at $92.48.

According to TipRanks.com, Pantginis is a 5-star analyst with an average return of 12.8% and a 45.0% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Lineage Cell Therapeutics, and Iovance Biotherapeutics.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Ligand Pharma with a $155.00 average price target, representing a 65.9% upside. In a report issued on January 24, Barclays also maintained a Buy rating on the stock with a $127.00 price target.

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Based on Ligand Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $15.25 million. In comparison, last year the company had a GAAP net loss of $42.48 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LGND in relation to earlier this year. Most recently, in November 2019, Matthew W. Foehr, the President & COO of LGND bought 1,001 shares for a total of $21,942.

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 to 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.

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