Key Points
- Director Martine Zimmermann sold 1,200 Ligand Pharmaceuticals shares at an average price of $285, generating $342,000. The sale reduced her direct ownership by 23.54% to 3,897 shares.
- Ligand’s latest quarterly results exceeded expectations, with adjusted earnings of $2.37 per share versus the $1.97 consensus and revenue of $63.69 million, up 33.8% year over year.
- Analysts remain broadly bullish: nine analysts rate the stock a Buy, with a consensus price target of $335.75 versus the reported share price of $280.65. Institutional investors own 91.28% of the company.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director Martine Zimmermann sold 1,200 shares of the stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $285.00, for a total value of $342,000.00. Following the completion of the transaction, the director directly owned 3,897 shares of the company's stock, valued at $1,110,645. This trade represents a 23.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Ligand Pharmaceuticals Stock Down 1.3%
Shares of Ligand Pharmaceuticals stock opened at $280.65 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 31.18 and a quick ratio of 30.96. Ligand Pharmaceuticals Incorporated has a 1-year low of $161.82 and a 1-year high of $326.63. The business's fifty day moving average price is $294.15 and its two-hundred day moving average price is $253.12. The company has a market capitalization of $5.60 billion, a P/E ratio of 30.02, a PEG ratio of 2.28 and a beta of 1.11.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.97 by $0.40. The business had revenue of $63.69 million for the quarter, compared to analysts' expectations of $61.30 million. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The company's revenue was up 33.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 earnings per share. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. As a group, research analysts forecast that Ligand Pharmaceuticals Incorporated will post 5.29 EPS for the current year.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on LGND. Royal Bank Of Canada increased their price objective on shares of Ligand Pharmaceuticals from $340.00 to $345.00 and gave the company an "outperform" rating in a report on Friday, August 7th. Weiss Ratings raised Ligand Pharmaceuticals from a "hold (c)" rating to a "buy (b-)" rating in a report on Tuesday, August 11th. Stifel Nicolaus upped their target price on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the stock a "buy" rating in a research report on Wednesday, July 8th. Bank of America increased their price target on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the company a "buy" rating in a research note on Thursday, July 9th. Finally, Citigroup assumed coverage on Ligand Pharmaceuticals in a research report on Tuesday, July 21st. They set a "buy" rating and a $387.00 price target on the stock. Nine analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $335.75.
View Our Latest Stock Analysis on LGND
Institutional Investors Weigh In On Ligand Pharmaceuticals
Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its position in Ligand Pharmaceuticals by 5.7% during the 2nd quarter. GAMMA Investing LLC now owns 681 shares of the biotechnology company's stock worth $215,000 after purchasing an additional 37 shares in the last quarter. Cim Investment Management Inc. raised its stake in Ligand Pharmaceuticals by 3.4% during the 1st quarter. Cim Investment Management Inc. now owns 1,484 shares of the biotechnology company's stock valued at $296,000 after purchasing an additional 49 shares during the period. BTG Pactual Asset Management US LLC lifted its holdings in shares of Ligand Pharmaceuticals by 7.1% in the second quarter. BTG Pactual Asset Management US LLC now owns 1,123 shares of the biotechnology company's stock valued at $355,000 after purchasing an additional 74 shares in the last quarter. 1492 Capital Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 4.4% in the first quarter. 1492 Capital Management LLC now owns 1,958 shares of the biotechnology company's stock valued at $391,000 after purchasing an additional 82 shares in the last quarter. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of Ligand Pharmaceuticals in the second quarter worth $27,000. Hedge funds and other institutional investors own 91.28% of the company's stock.
Ligand Pharmaceuticals Company Profile
(
Get Free Report)
Ligand Pharmaceuticals Incorporated is a biopharmaceutical company that develops, acquires and licenses technologies designed to help pharmaceutical companies discover, develop and commercialize medicines. Rather than focusing primarily on building a large portfolio of internally marketed drugs, Ligand operates an asset-light business model centered on partnerships, licensing agreements, royalties and other economic interests in partnered products.
The company's principal technology is Captisol, a proprietary modified cyclodextrin designed to improve the solubility, stability and delivery of certain drug compounds.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
