Ligand Pharmaceuticals Still Offers Double-Digits Upside, Vetr Crowd Says

Shares of Ligand Pharmaceuticals Inc. LGND have gained 6.1 percent over the year, posting a performance similar to that of the Dow Jones Industrial Average. Over the past six months, however, the stock moved up more than 30 percent. The Vetr crowd seems to believe there is still room left for upside, as evidenced by its average price target of $128.29. This implies a potential return of roughly 12.78 percent from current valuations.

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Seeking to better reflect this upside potential, the Vetr community decided upgrade its rating on shares of Ligand Pharmaceutical on Thursday, from 4.0 Stars (Buy) to 4.5 Stars (Strong Buy) - out of a possible 5.0 Stars rating.

It should be noted that 60 percent of the crowd’s ratings are bullish, implying that the price targets issued by the most optimistic investors are quite high, and have managed to outweigh the lower targets.