Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director Jason Aryeh sold 282 shares of the company's stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $319.99, for a total transaction of $90,237.18. Following the completion of the sale, the director directly owned 108,476 shares of the company's stock, valued at $34,711,235.24. The trade was a 0.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Jason Aryeh also recently made the following trade(s):
- On Monday, November 2nd, Jason Aryeh sold 700 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $320.43, for a total transaction of $224,301.00.
- 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 transaction of $451,858.64.
Ligand Pharmaceuticals Trading Up 2.4%
Shares of LGND stock traded up $7.20 on Friday, hitting $306.20. The stock had a trading volume of 130,176 shares, compared to its average volume of 239,773. The company has a current ratio of 1.22, a quick ratio of 30.96 and a debt-to-equity ratio of 0.71. Ligand Pharmaceuticals Incorporated has a twelve month low of $175.89 and a twelve month high of $326.63. The company has a fifty day moving average price of $298.82 and a two-hundred day moving average price of $255.16. The firm has a market cap of $6.12 billion, a P/E ratio of 136.70, a PEG ratio of 2.40 and a beta of 1.16.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted its earnings results on Thursday, October 29th. The biotechnology company reported $2.67 earnings per share for the quarter, topping 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%. The company's revenue for the quarter was down 31.8% on a year-over-year basis. During the same period in the previous year, the company posted $3.09 earnings per share. As a group, analysts forecast that Ligand Pharmaceuticals Incorporated will post 2.35 earnings per share for the current fiscal year.
Analyst Ratings Changes
LGND has been the subject of several research analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $326.00 price objective (up from $285.00) on shares of Ligand Pharmaceuticals in a research report on Monday, August 3rd. Royal Bank Of Canada lifted their price target on shares of Ligand Pharmaceuticals from $345.00 to $357.00 and gave the company an "outperform" rating in a research note on Friday, October 30th. HC Wainwright reiterated a "buy" rating and issued a $358.00 price target on shares of Ligand Pharmaceuticals in a report on Thursday, September 24th. Weiss Ratings downgraded shares of Ligand Pharmaceuticals from a "buy (b)" rating to a "hold (c)" rating in a research report on Monday. Finally, Citigroup raised their price objective on shares of Ligand Pharmaceuticals from $397.00 to $402.00 and gave the stock a "buy" rating in a report on Thursday. Eight research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Ligand Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $354.75.
View Our Latest Research Report on Ligand Pharmaceuticals
Institutional Investors Weigh In On Ligand Pharmaceuticals
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ranger Investment Management L.P. acquired a new position in Ligand Pharmaceuticals during the 2nd quarter worth approximately $81,424,000. Bank of New York Mellon Corp acquired a new position in shares of Ligand Pharmaceuticals during the 2nd quarter worth about $41,429,000. William Blair Investment Management LLC bought a new stake in Ligand Pharmaceuticals in the third quarter valued at approximately $37,264,000. Bessemer Group Inc. boosted its position in Ligand Pharmaceuticals by 358.8% during the first quarter. Bessemer Group Inc. now owns 107,859 shares of the biotechnology company's stock worth $21,535,000 after purchasing an additional 84,349 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings in Ligand Pharmaceuticals by 41.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 170,089 shares of the biotechnology company's stock valued at $53,131,000 after acquiring an additional 49,785 shares during the period. Institutional investors and hedge funds own 91.28% of the company's stock.
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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