Key Points
- Ligand Pharmaceuticals director Jason Aryeh sold 4,500 shares on June 11 at an average price of $250 each, totaling $1.125 million. After the sale, he still held 102,580 shares valued at about $25.6 million.
- The company recently reported quarterly earnings of $1.63 per share, missing analyst estimates, and revenue of $51.72 million, also below expectations. Still, revenue rose 14.1% year over year.
- Wall Street sentiment remains broadly positive, with seven Buy ratings and one Hold, and an average price target of $257.71. Several firms also raised their targets recently, reflecting continued analyst optimism.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director Jason Aryeh sold 500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $250.00, for a total value of $125,000.00. Following the completion of the sale, the director owned 107,080 shares in the company, valued at approximately $26,770,000. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Jason Aryeh also recently made the following trade(s):
- On Thursday, June 11th, Jason Aryeh sold 4,500 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $250.00, for a total value of $1,125,000.00.
Ligand Pharmaceuticals Trading Up 0.4%
NASDAQ LGND opened at $255.54 on Friday. The company has a quick ratio of 20.95, a current ratio of 21.28 and a debt-to-equity ratio of 0.45. Ligand Pharmaceuticals Incorporated has a twelve month low of $110.00 and a twelve month high of $259.03. The firm has a market capitalization of $5.12 billion, a PE ratio of 34.67, a P/E/G ratio of 2.70 and a beta of 1.17. The stock's 50 day moving average is $225.60 and its 200 day moving average is $206.74.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.21). Ligand Pharmaceuticals had a net margin of 55.95% and a return on equity of 16.19%. The firm had revenue of $51.72 million for the quarter, compared to the consensus estimate of $59.10 million. During the same quarter in the prior year, the firm earned $1.33 earnings per share. The company's revenue for the quarter was up 14.1% compared to the same quarter last year. Research analysts forecast that Ligand Pharmaceuticals Incorporated will post 4.47 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on LGND shares. HC Wainwright lifted their price target on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Wall Street Zen lowered Ligand Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Royal Bank Of Canada lifted their price target on Ligand Pharmaceuticals from $252.00 to $262.00 and gave the company an "outperform" rating in a research report on Friday, May 8th. Citigroup lifted their price target on Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Finally, Oppenheimer lifted their price target on Ligand Pharmaceuticals from $275.00 to $277.00 and gave the company an "outperform" rating in a research report on Friday, February 27th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Ligand Pharmaceuticals presently has a consensus rating of "Moderate Buy" and a consensus price target of $257.71.
Get Our Latest Analysis on Ligand Pharmaceuticals
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Segall Bryant & Hamill LLC purchased a new position in Ligand Pharmaceuticals during the first quarter valued at $1,337,000. Argent Capital Management LLC purchased a new position in Ligand Pharmaceuticals during the first quarter valued at $696,000. Cim Investment Management Inc. raised its stake in Ligand Pharmaceuticals by 3.4% during the first quarter. Cim Investment Management Inc. now owns 1,484 shares of the biotechnology company's stock valued at $296,000 after buying an additional 49 shares during the last quarter. Bank of America Corp DE raised its stake in Ligand Pharmaceuticals by 31.4% during the first quarter. Bank of America Corp DE now owns 157,865 shares of the biotechnology company's stock valued at $31,518,000 after buying an additional 37,696 shares during the last quarter. Finally, Janus Henderson Group PLC raised its stake in Ligand Pharmaceuticals by 1.5% during the first quarter. Janus Henderson Group PLC now owns 1,009,891 shares of the biotechnology company's stock valued at $201,623,000 after buying an additional 14,491 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.
About Ligand Pharmaceuticals
(
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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