Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) insider Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $313.28, for a total value of $1,566,400.00. Following the completion of the transaction, the insider directly owned 41,514 shares of the company's stock, valued at $13,005,505.92. This represents a 10.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 Monday, June 1st, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $227.06, for a total transaction of $1,135,300.00.
- 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.
Ligand Pharmaceuticals Price Performance
LGND opened at $320.42 on Tuesday. Ligand Pharmaceuticals Incorporated has a one year low of $112.83 and a one year high of $322.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 21.28 and a quick ratio of 20.95. The company's 50 day simple moving average is $249.25 and its 200-day simple moving average is $217.72. The stock has a market capitalization of $6.42 billion, a P/E ratio of 43.48, a price-to-earnings-growth ratio of 3.57 and a beta of 1.10.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly earnings results 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). Ligand Pharmaceuticals had a net margin of 55.95% and a return on equity of 16.19%. The company had revenue of $51.72 million during the quarter, compared to analyst estimates of $59.10 million. During the same period in the prior year, the business earned $1.33 EPS. The business's revenue for the quarter was up 14.1% on a year-over-year basis. Sell-side analysts anticipate that Ligand Pharmaceuticals Incorporated will post 4.25 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of brokerages recently commented on LGND. HC Wainwright lifted their price objective on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Bank of America began coverage on shares of Ligand Pharmaceuticals in a research report on Wednesday, March 11th. They set a "buy" rating and a $244.00 target price on the stock. Royal Bank Of Canada raised their target price on shares of Ligand Pharmaceuticals from $252.00 to $262.00 and gave the company an "outperform" rating in a research note on Friday, May 8th. Citigroup lifted their price target on shares of Ligand Pharmaceuticals from $276.00 to $282.00 and gave the stock a "buy" rating in a research report on Wednesday, April 15th. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Ligand Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus price target of $257.71.
View Our Latest Stock Analysis on Ligand Pharmaceuticals
Hedge Funds Weigh In On Ligand Pharmaceuticals
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tudor Investment Corp ET AL acquired a new position in shares of Ligand Pharmaceuticals in the 3rd quarter valued at $2,789,955,000. Janus Henderson Group PLC raised its stake in Ligand Pharmaceuticals by 1.5% during the 1st quarter. Janus Henderson Group PLC now owns 1,009,891 shares of the biotechnology company's stock worth $201,623,000 after buying an additional 14,491 shares during the period. State Street Corp raised its stake in Ligand Pharmaceuticals by 3.1% during the 2nd quarter. State Street Corp now owns 749,754 shares of the biotechnology company's stock worth $85,232,000 after buying an additional 22,629 shares during the period. Invesco Ltd. lifted its holdings in Ligand Pharmaceuticals by 36.5% during the fourth quarter. Invesco Ltd. now owns 516,464 shares of the biotechnology company's stock worth $97,648,000 after acquiring an additional 138,169 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Ligand Pharmaceuticals by 115.9% during the fourth quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company's stock worth $93,809,000 after acquiring an additional 266,304 shares in the last quarter. 91.28% of the stock is owned by institutional investors.
Ligand Pharmaceuticals Company Profile
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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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