Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director Jason Haas sold 6,461 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $255.58, for a total value of $1,651,302.38. Following the transaction, the director directly owned 4,981 shares in the company, valued at $1,273,043.98. This trade represents a 56.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Ligand Pharmaceuticals Stock Performance
NASDAQ LGND opened at $253.25 on Tuesday. The stock's fifty day moving average is $226.67 and its two-hundred day moving average is $207.09. The firm has a market capitalization of $5.08 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The company has a debt-to-equity ratio of 0.45, a quick ratio of 20.95 and a current ratio of 21.28. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $110.00 and a fifty-two week high of $259.03.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $1.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.21). The company had revenue of $51.72 million for the quarter, compared to analyst estimates of $59.10 million. Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The business's quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the firm posted $1.33 EPS. On average, research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 4.47 earnings per share for the current year.
Hedge Funds Weigh In On Ligand Pharmaceuticals
Several hedge funds have recently bought and sold shares of LGND. CIBC Private Wealth Group LLC lifted its stake in Ligand Pharmaceuticals by 86.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company's stock worth $26,000 after acquiring an additional 69 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in Ligand Pharmaceuticals during the 4th quarter worth about $31,000. USA Financial Formulas acquired a new position in Ligand Pharmaceuticals during the 4th quarter worth about $43,000. Smartleaf Asset Management LLC lifted its stake in Ligand Pharmaceuticals by 31.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company's stock worth $47,000 after acquiring an additional 65 shares in the last quarter. Finally, JPL Wealth Management LLC acquired a new position in Ligand Pharmaceuticals during the 3rd quarter worth about $52,000. Institutional investors and hedge funds own 91.28% of the company's stock.
Analyst Ratings Changes
Several equities analysts have recently commented on the company. Wall Street Zen lowered Ligand Pharmaceuticals from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. HC Wainwright upped their price target on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the company a "buy" rating in a research note on Thursday, April 30th. Royal Bank Of Canada upped their price target on Ligand Pharmaceuticals from $252.00 to $262.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Citigroup upped their price target on Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a "buy" rating in a research note on Wednesday, April 15th. Finally, Oppenheimer upped their price target on Ligand Pharmaceuticals from $275.00 to $277.00 and gave the company an "outperform" rating in a research note on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $257.71.
Check Out Our Latest Stock Analysis on Ligand Pharmaceuticals
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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