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Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) has reached a new 52-week high, with its stock price climbing to $169.72. According to InvestingPro data, the stock is currently trading above its Fair Value, with analysts setting price targets between $164 and $206. This milestone reflects a significant uptick in investor confidence and market performance. Over the past year, Ligand Pharmaceuticals has experienced a remarkable 61.18% increase in its stock value, with particularly strong momentum shown in its 55.7% gain over the past six months. The company maintains a healthy financial position with a current ratio of 5.45, though InvestingPro analysis indicates the stock may be in overbought territory. The company’s ability to achieve this 52-week high indicates positive momentum, aligning with broader market trends and investor sentiment within the biotechnology sector. For deeper insights, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro, covering this and 1,400+ other top US stocks.
In other recent news, Ligand Pharmaceuticals has been at the center of several notable developments. The company reported strong second-quarter 2025 earnings, prompting Benchmark to raise its price target for Ligand Pharma to $175, maintaining a Buy rating. In a similar move, Oppenheimer increased its price target to $190, citing a mid-August capital raise that generated approximately $385 million through a $460 million convertible debt offering. H.C. Wainwright also raised its price target to $206 following the FDA’s approval of an update to the REMS labeling for FILSPARI, which included reduced liver function monitoring requirements.
Ligand Pharmaceuticals completed its $460 million convertible notes offering, which included the full exercise of the initial purchasers’ option to buy an additional $60 million in notes. The company reported net proceeds of approximately $445.1 million after fees and expenses. Prior to this, Ligand had priced $400 million of 0.75% convertible senior notes due 2030 in a private placement to qualified institutional buyers. These recent financial activities and regulatory updates have contributed to the analysts’ optimistic outlooks.
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