In a report released yesterday, Joseph Pantginis from H.C. Wainwright reiterated a Buy rating on Ligand Pharma (LGND), with a price target of $229.00. The company’s shares closed last Tuesday at $100.60.
According to TipRanks.com, Pantginis is a top 100 analyst with an average return of 34.8% and a 63.9% success rate. Pantginis covers the Healthcare sector, focusing on stocks such as Applied Genetic Technologies, Catabasis Pharmaceuticals, and Lineage Cell Therapeutics.
Ligand Pharma has an analyst consensus of Strong Buy, with a price target consensus of $191.25.
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Based on Ligand Pharma’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $41.85 million and GAAP net loss of $6.7 million. In comparison, last year the company earned revenue of $24.81 million and had a GAAP net loss of $15.25 million.
Based on the recent corporate insider activity of 36 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.
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Ligand Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the development and acquisition of 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.