Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) insider Andrew Reardon sold 5,000 shares of the company's stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $286.09, for a total transaction of $1,430,450.00. Following the completion of the sale, the insider directly owned 36,514 shares of the company's stock, valued at approximately $10,446,290.26. This represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible 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, August 3rd, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $288.99, for a total value of $1,444,950.00.
- On Wednesday, July 1st, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $313.28, for a total value of $1,566,400.00.
Ligand Pharmaceuticals Stock Performance
NASDAQ:LGND opened at $288.83 on Wednesday. The firm has a market cap of $5.76 billion, a price-to-earnings ratio of 30.89, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Ligand Pharmaceuticals Incorporated has a twelve month low of $161.82 and a twelve month high of $326.63. The company has a current ratio of 31.18, a quick ratio of 30.96 and a debt-to-equity ratio of 1.16. The company has a 50-day moving average of $296.73 and a 200-day moving average of $250.31.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted its quarterly 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. The firm had revenue of $63.69 million for the quarter, compared to analyst estimates of $61.30 million. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The firm's quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.60 earnings per share. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. Analysts forecast that Ligand Pharmaceuticals Incorporated will post 5.29 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Ligand Pharmaceuticals
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC boosted its stake in shares of Ligand Pharmaceuticals by 86.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company's stock valued at $26,000 after buying an additional 69 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at $31,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Ligand Pharmaceuticals in the second quarter worth $75,000. JPL Wealth Management LLC acquired a new position in shares of Ligand Pharmaceuticals in the third quarter worth $52,000. Finally, IFP Advisors Inc raised its holdings in shares of Ligand Pharmaceuticals by 1,040.0% during the fourth quarter. IFP Advisors Inc now owns 342 shares of the biotechnology company's stock worth $65,000 after acquiring an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company's stock.
Analyst Ratings Changes
Several research analysts have recently weighed in on LGND shares. Royal Bank Of Canada lifted their target price 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. Bank of America raised their price objective on shares of Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a "buy" rating in a research note on Thursday, July 9th. Weiss Ratings upgraded shares of Ligand Pharmaceuticals from a "hold (c)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. HC Wainwright boosted their target price on shares of Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Finally, Oppenheimer restated an "outperform" rating and issued a $326.00 target price (up from $285.00) on shares of Ligand Pharmaceuticals in a report on Monday, August 3rd. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $335.75.
Get Our Latest Analysis on Ligand Pharmaceuticals
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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