Key Points
- Ligand Pharmaceuticals insider Andrew Reardon sold 5,000 shares on June 1 at an average price of $227.06, totaling about $1.14 million. The sale reduced his position by 10.78% and was made under a pre-arranged Rule 10b5-1 trading plan.
- Reardon has been a regular seller, also selling 5,000 shares each on March 4, April 1, and May 1 at prices ranging from $201.24 to $231.31.
- LGND shares were up 1.3% and opened at $232.76, while analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $257.71.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) insider Andrew Reardon sold 5,000 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $227.06, for a total value of $1,135,300.00. Following the completion of the sale, the insider owned 41,382 shares of the company's stock, valued at $9,396,196.92. The trade was a 10.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Andrew Reardon also recently made the following trade(s):
- On Friday, May 1st, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $231.31, for a total transaction of $1,156,550.00.
- On Wednesday, April 1st, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $201.24, for a total transaction of $1,006,200.00.
- On Wednesday, March 4th, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $206.35, for a total transaction of $1,031,750.00.
Ligand Pharmaceuticals Trading Up 1.3%
NASDAQ LGND opened at $232.76 on Wednesday. Ligand Pharmaceuticals Incorporated has a 1-year low of $101.30 and a 1-year high of $247.38. The company has a current ratio of 21.28, a quick ratio of 20.95 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $4.66 billion, a PE ratio of 31.58, a price-to-earnings-growth ratio of 2.44 and a beta of 1.17. The firm's fifty day simple moving average is $218.06 and its 200-day simple moving average is $204.26.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted its quarterly earnings results on Thursday, May 14th. The biotechnology company reported $1.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.21). Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The company had revenue of $51.72 million during the quarter, compared to analyst estimates of $59.10 million. During the same period last year, the company posted $1.33 earnings per share. The company's revenue was up 14.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Ligand Pharmaceuticals Incorporated will post 4.47 earnings per share for the current fiscal year.
Analysts Set New Price Targets
LGND has been the topic of a number of research reports. Bank of America initiated coverage on shares of Ligand Pharmaceuticals in a research note on Wednesday, March 11th. They issued a "buy" rating and a $244.00 price target on the stock. Citigroup upped their price target on shares of Ligand Pharmaceuticals from $276.00 to $282.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Weiss Ratings downgraded shares of Ligand Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 15th. Wall Street Zen downgraded shares of Ligand Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, HC Wainwright increased their target price on shares of Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $257.71.
Check Out Our Latest Stock Analysis on Ligand Pharmaceuticals
Hedge Funds Weigh In On Ligand Pharmaceuticals
Hedge funds have recently bought and sold shares of the business. Fisher Asset Management LLC increased its position in Ligand Pharmaceuticals by 2.7% during the third quarter. Fisher Asset Management LLC now owns 108,926 shares of the biotechnology company's stock worth $19,295,000 after buying an additional 2,860 shares during the last quarter. Envestnet Asset Management Inc. increased its position in Ligand Pharmaceuticals by 16.6% during the third quarter. Envestnet Asset Management Inc. now owns 31,915 shares of the biotechnology company's stock worth $5,653,000 after buying an additional 4,538 shares during the last quarter. UBS Group AG increased its position in Ligand Pharmaceuticals by 27.8% during the fourth quarter. UBS Group AG now owns 143,067 shares of the biotechnology company's stock worth $27,050,000 after buying an additional 31,081 shares during the last quarter. Cibc World Market Inc. increased its position in Ligand Pharmaceuticals by 11.7% during the third quarter. Cibc World Market Inc. now owns 59,131 shares of the biotechnology company's stock worth $10,474,000 after buying an additional 6,209 shares during the last quarter. Finally, Clark Capital Management Group Inc. increased its position in Ligand Pharmaceuticals by 16.7% during the third quarter. Clark Capital Management Group Inc. now owns 82,991 shares of the biotechnology company's stock worth $14,701,000 after buying an additional 11,858 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.
Ligand Pharmaceuticals Company Profile
(
Get Free Report)
Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.
The company's product offerings center around several core platforms.
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