Stephens & Co. Initiates Coverage on Ligand Pharmaceuticals to Overweight

Stephens & Co. Initiates Coverage on Ligand Pharmaceuticals(NASDAQ:LGND). The shares have been rated Overweight. The rating by Stephens & Co. was issued on Apr 13, 2016.

In a different note, On Mar 11, 2016, Roth Capital said it Maintains its rating on Ligand Pharmaceuticals. In the research note, the firm Raises the price-target to $146.00 per share. The shares have been rated ‘Buy’ by the firm. H.C. Wainwright said it Initiates Coverage on Ligand Pharmaceuticals, according to a research note issued on Mar 3, 2016. The shares have been rated ‘Buy’ by the firm.

Ligand Pharmaceuticals (LGND) made into the market gainers list on Fridays trading session with the shares advancing 0.47% or 0.58 points. Due to strong positive momentum, the stock ended at $124.59, which is also near the day’s high of $125.35. The stock began the session at $124.24 and the volume stood at 3,87,362 shares. The 52-week high of the shares is $125.35 and the 52 week low is $71.63. The company has a current market capitalization of $2,588 M and it has 2,07,73,073 shares in outstanding.

Ligand Pharmaceuticals(LGND) last announced its earnings results on Feb 10, 2016 for Fiscal Year 2015 and Q4.Company reported revenue of $21.19M. Analysts had an estimated revenue of $24.71M. Earnings per share were $0.66. Analysts had estimated an EPS of $0.65.

Several Insider Transactions has been reported to the SEC. On Apr 7, 2016, John W Kozarich (director) sold 5,000 shares at $115.00 per share price.Also, On Mar 17, 2016, Matthew W Foehr (President and COO) sold 6,400 shares at $96.70 per share price.On Mar 9, 2016, John L Higgins (Chief Executive Officer) sold 10,833 shares at $102.71 per share price, according to the Form-4 filing with the securities and exchange commission.

Ligand Pharmaceuticals Incorporated (Ligand) is a biotechnology company 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’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. The Company is engaged in the development of product candidates indicated for the treatment of diseases such as hepatitis multiple myeloma muscle wasting Alzheimer’s disease dyslipidemia diabetes anemia epilepsy focal segmental glomerulosclerosis (FSGS) and osteoporosis.

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