Key Points
- Director Jason Haas sold 7,138 Ligand Pharmaceuticals shares at an average price of $292.81, generating approximately $2.09 million; his remaining ownership fell 64.2% to 3,981 shares.
- Ligand reported quarterly EPS of $2.37, beating expectations of $1.97, while revenue rose 33.8% year over year to $63.69 million. The stock opened at $294.60, up 2.0%.
- Analysts maintain a positive outlook, with nine Buy ratings and a consensus price target of $335.75; institutional investors own 91.28% of the company.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director Jason Haas sold 7,138 shares of the firm's stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $292.81, for a total value of $2,090,077.78. Following the completion of the sale, the director directly owned 3,981 shares in the company, valued at approximately $1,165,676.61. The trade was a 64.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Jason Haas also recently made the following trade(s):
- On Friday, June 12th, Jason Haas sold 6,461 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $255.58, for a total value of $1,651,302.38.
Ligand Pharmaceuticals Trading Up 2.0%
NASDAQ LGND opened at $294.60 on Friday. The company has a market cap of $5.87 billion, a P/E ratio of 31.51, a P/E/G ratio of 2.51 and a beta of 1.13. Ligand Pharmaceuticals Incorporated has a 12 month low of $149.51 and a 12 month high of $326.63. The company has a debt-to-equity ratio of 1.16, a current ratio of 31.18 and a quick ratio of 20.95. The company has a 50-day moving average of $291.80 and a 200-day moving average of $238.57.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.40. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The business had revenue of $63.69 million for the quarter, compared to analysts' expectations of $61.30 million. During the same period last year, the company earned $1.60 earnings per share. The company's quarterly revenue was up 33.8% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. As a group, equities analysts predict that Ligand Pharmaceuticals Incorporated will post 4.89 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on LGND. Citigroup started coverage on shares of Ligand Pharmaceuticals in a research note on Tuesday, July 21st. They set a "buy" rating and a $387.00 price objective for the company. Stifel Nicolaus lifted their target price on shares of Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Royal Bank Of Canada upped their price target on shares of Ligand Pharmaceuticals from $340.00 to $345.00 and gave the stock an "outperform" rating in a research report on Friday, August 7th. Oppenheimer reiterated an "outperform" rating and issued a $326.00 price target (up from $285.00) on shares of Ligand Pharmaceuticals in a report on Monday, August 3rd. Finally, HC Wainwright raised their price objective on Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a "buy" rating in a research report on Thursday, August 6th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $335.75.
Read Our Latest Analysis on Ligand Pharmaceuticals
Institutional Trading of Ligand Pharmaceuticals
Several large investors have recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its stake in shares of Ligand Pharmaceuticals by 86.3% during the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company's stock valued at $26,000 after purchasing an additional 69 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at $31,000. JPL Wealth Management LLC purchased a new position in shares of Ligand Pharmaceuticals in the third quarter valued at $52,000. Covestor Ltd boosted its stake in shares of Ligand Pharmaceuticals by 17,050.0% in the fourth quarter. Covestor Ltd now owns 343 shares of the biotechnology company's stock valued at $65,000 after purchasing an additional 341 shares during the period. Finally, IFP Advisors Inc grew its holdings in Ligand Pharmaceuticals by 1,040.0% during the 4th quarter. IFP Advisors Inc now owns 342 shares of the biotechnology company's stock valued at $65,000 after purchasing an additional 312 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company's stock.
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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