Key Points
- Director Jason Aryeh sold 1,411 Ligand shares for $451,858.64 at an average price of $320.24, reducing his stake by 1.27%. He retained 109,458 shares, valued at about $35.1 million.
- Ligand’s latest quarterly results beat estimates: EPS was $2.67 versus $2.33 expected, and revenue was $78.75 million versus $77 million expected. However, revenue fell 31.8% year over year.
- Analysts have a “Moderate Buy” consensus and an average price target of $339.22; nine analysts rate the stock Buy and one rates it Hold.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director Jason Aryeh sold 700 shares of the stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $320.43, for a total value of $224,301.00. Following the completion of the sale, the director owned 108,758 shares of the company's stock, valued at $34,849,325.94. The trade was a 0.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Jason Aryeh also recently made the following trade(s):
- On Friday, October 30th, Jason Aryeh sold 1,411 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $320.24, for a total value of $451,858.64.
Ligand Pharmaceuticals Stock Performance
Shares of LGND stock opened at $313.52 on Wednesday. Ligand Pharmaceuticals Incorporated has a 1-year low of $175.89 and a 1-year high of $326.63. The company has a current ratio of 1.22, a quick ratio of 30.96 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $6.27 billion, a price-to-earnings ratio of 139.96, a P/E/G ratio of 2.40 and a beta of 1.16. The stock's fifty day simple moving average is $297.47 and its 200-day simple moving average is $253.48.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted its quarterly earnings results on Thursday, October 29th. The biotechnology company reported $2.67 earnings per share for the quarter, beating the consensus estimate of $2.33 by $0.34. The firm had revenue of $78.75 million for the quarter, compared to analyst estimates of $77.00 million. Ligand Pharmaceuticals had a return on equity of 5.22% and a net margin of 20.27%. Ligand Pharmaceuticals's quarterly revenue was down 31.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.09 earnings per share. On average, sell-side analysts predict that Ligand Pharmaceuticals Incorporated will post 5.25 earnings per share for the current fiscal year.
Institutional Trading of Ligand Pharmaceuticals
Several hedge funds and other institutional investors have recently modified their holdings of LGND. Ranger Investment Management L.P. acquired a new stake in Ligand Pharmaceuticals during the second quarter valued at $81,424,000. Bank of New York Mellon Corp purchased a new position in Ligand Pharmaceuticals in the second quarter valued at about $41,429,000. Bessemer Group Inc. grew its stake in Ligand Pharmaceuticals by 358.8% in the first quarter. Bessemer Group Inc. now owns 107,859 shares of the biotechnology company's stock valued at $21,535,000 after purchasing an additional 84,349 shares in the last quarter. Bank of America Corp DE increased its position in Ligand Pharmaceuticals by 31.4% in the 1st quarter. Bank of America Corp DE now owns 157,865 shares of the biotechnology company's stock worth $31,518,000 after purchasing an additional 37,696 shares during the last quarter. Finally, Sei Investments Co. increased its position in Ligand Pharmaceuticals by 62.2% in the 1st quarter. Sei Investments Co. now owns 75,188 shares of the biotechnology company's stock worth $15,012,000 after purchasing an additional 28,820 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on LGND shares. HC Wainwright reiterated a "buy" rating and issued a $358.00 target price on shares of Ligand Pharmaceuticals in a report on Thursday, September 24th. Weiss Ratings lowered shares of Ligand Pharmaceuticals from a "buy (b)" rating to a "hold (c)" rating in a research report on Monday. Bank of America raised their price target on shares of Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Barclays assumed coverage on shares of Ligand Pharmaceuticals in a research report on Friday, September 25th. They set an "overweight" rating and a $345.00 price objective on the stock. Finally, Oppenheimer reiterated an "outperform" rating and issued a $326.00 price objective (up from $285.00) on shares of Ligand Pharmaceuticals in a research note on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Ligand Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $339.22.
Check Out Our Latest Stock Analysis on LGND
Ligand Pharmaceuticals Company Profile
(
Get Free Report)
Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) is a biopharmaceutical company that develops, acquires and licenses technologies intended to improve the development and commercialization of medicines. Rather than operating primarily as a traditional drug manufacturer, Ligand generally works with pharmaceutical and biotechnology partners, receiving licensing payments, royalties and other consideration tied to partnered products.
The company's principal technology is Captisol, a modified cyclodextrin designed to improve the solubility, stability and delivery of certain active pharmaceutical ingredients.
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