Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) insider Andrew Reardon sold 5,000 shares of the firm's stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $313.22, for a total value of $1,566,100.00. Following the transaction, the insider owned 31,854 shares of the company's stock, valued at $9,977,309.88. This trade represents a 13.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 Friday, October 2nd, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $304.07, for a total value of $1,520,350.00.
- On Thursday, September 3rd, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $286.09, for a total value of $1,430,450.00.
Ligand Pharmaceuticals Stock Up 0.8%
Shares of NASDAQ:LGND opened at $316.13 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.22 and a quick ratio of 30.96. The firm has a market capitalization of $6.32 billion, a PE ratio of 141.13, a price-to-earnings-growth ratio of 2.45 and a beta of 1.16. The firm's 50-day moving average is $298.16 and its two-hundred day moving average is $254.08. Ligand Pharmaceuticals Incorporated has a 1 year low of $175.89 and a 1 year high of $326.63.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly earnings results on Thursday, October 29th. The biotechnology company reported $2.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.34. Ligand Pharmaceuticals had a net margin of 20.27% and a return on equity of 5.22%. The business had revenue of $78.75 million for the quarter, compared to analysts' expectations of $77.00 million. During the same quarter in the prior year, the company earned $3.09 earnings per share. The business's quarterly revenue was down 31.8% on a year-over-year basis. Analysts predict that Ligand Pharmaceuticals Incorporated will post 5.25 EPS for the current year.
Hedge Funds Weigh In On Ligand Pharmaceuticals
A number of institutional investors and hedge funds have recently made changes to their positions in LGND. Integrated Wealth Concepts LLC purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter worth approximately $27,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Ligand Pharmaceuticals in the second quarter valued at approximately $75,000. MCF Advisors LLC lifted its stake in Ligand Pharmaceuticals by 118.9% in the second quarter. MCF Advisors LLC now owns 243 shares of the biotechnology company's stock worth $77,000 after acquiring an additional 132 shares during the last quarter. Covestor Ltd lifted its stake in Ligand Pharmaceuticals by 49.8% in the third quarter. Covestor Ltd now owns 337 shares of the biotechnology company's stock worth $105,000 after acquiring an additional 112 shares during the last quarter. Finally, GK Wealth Management LLC purchased a new position in Ligand Pharmaceuticals in the third quarter worth approximately $122,000. 91.28% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms have issued reports on LGND. Stifel Nicolaus increased their target price on shares of Ligand Pharmaceuticals from $255.00 to $332.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Citigroup boosted their price target on shares of Ligand Pharmaceuticals from $390.00 to $397.00 and gave the stock a "buy" rating in a research note on Wednesday, September 23rd. Barclays initiated coverage on shares of Ligand Pharmaceuticals in a research note on Friday, September 25th. They issued an "overweight" rating and a $345.00 price target for the company. Oppenheimer reaffirmed an "outperform" rating and set a $326.00 price objective (up from $285.00) on shares of Ligand Pharmaceuticals in a research report on Monday, August 3rd. Finally, HC Wainwright reiterated a "buy" rating and issued a $358.00 price objective on shares of Ligand Pharmaceuticals in a research note on Thursday, September 24th. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $339.22.
Check Out Our Latest Research Report on LGND
About Ligand Pharmaceuticals
(
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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