Key Points
- Ligand Pharmaceuticals director Jason Aryeh sold 3,000 shares for $960,150 at an average price of $320.05, reducing his direct stake by 2.77% to 105,476 shares.
- Ligand reported quarterly EPS of $2.67, beating the $2.33 consensus, and revenue of $78.75 million, above estimates; however, revenue fell 31.8% year over year.
- Analysts maintain a “Moderate Buy” consensus, with an average price target of $355.38. Shares opened at $316.27, and eight analysts rate the stock Buy while one rates it Hold.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director Jason Aryeh sold 3,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $320.05, for a total transaction of $960,150.00. Following the completion of the sale, the director directly owned 105,476 shares of the company's stock, valued at approximately $33,757,593.80. This represents a 2.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Jason Aryeh also recently made the following trade(s):
- On Wednesday, November 4th, Jason Aryeh sold 282 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $319.99, for a total transaction of $90,237.18.
- 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 value 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 value of $451,858.64.
Ligand Pharmaceuticals Stock Down 0.2%
Shares of LGND opened at $316.27 on Friday. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 141.19, a PEG ratio of 5.53 and a beta of 1.16. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.19 and a current ratio of 1.22. The business's fifty day moving average price is $301.33 and its two-hundred day moving average price is $257.45. Ligand Pharmaceuticals Incorporated has a 52 week low of $175.89 and a 52 week high of $326.63.
Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its earnings results on Thursday, October 29th. The biotechnology company reported $2.67 EPS for the quarter, beating the consensus estimate of $2.33 by $0.34. The company had revenue of $78.75 million during the quarter, compared to analysts' expectations of $77.00 million. Ligand Pharmaceuticals had a return on equity of 5.22% and a net margin of 20.27%. The business's revenue for the quarter was down 31.8% on a year-over-year basis. During the same period last year, the firm earned $3.09 EPS. On average, analysts predict that Ligand Pharmaceuticals Incorporated will post 2.35 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of analysts recently commented on the company. Leerink Partners assumed coverage on Ligand Pharmaceuticals in a research report on Friday, August 14th. They issued an "outperform" rating and a $330.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $358.00 target price on shares of Ligand Pharmaceuticals in a research report on Thursday, September 24th. Oppenheimer restated an "outperform" rating and set a $326.00 target price (up from $285.00) on shares of Ligand Pharmaceuticals in a research report on Monday, August 3rd. Royal Bank Of Canada raised their target price 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. Finally, Citigroup lifted their price target on shares of Ligand Pharmaceuticals from $397.00 to $402.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. Eight investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Ligand Pharmaceuticals has a consensus rating of "Moderate Buy" and an average price target of $355.38.
Read Our Latest Report on LGND
Institutional Trading of Ligand Pharmaceuticals
Several institutional investors and hedge funds have recently made changes to their positions in the business. Ranger Investment Management L.P. acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at $81,424,000. Bank of New York Mellon Corp bought a new position in shares of Ligand Pharmaceuticals in the 2nd quarter worth $41,429,000. William Blair Investment Management LLC acquired a new stake in shares of Ligand Pharmaceuticals during the third quarter worth $37,264,000. Bessemer Group Inc. grew its stake in shares of 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. grew its stake in shares of Ligand Pharmaceuticals by 41.4% during the third quarter. Russell Investments Group Ltd. now owns 170,089 shares of the biotechnology company's stock worth $53,131,000 after purchasing an additional 49,785 shares during the period. Institutional investors own 91.28% of the company's stock.
About Ligand Pharmaceuticals
(
Get Free Report)
Ligand Pharmaceuticals is a biopharmaceutical company that works with pharmaceutical and biotechnology partners to develop and commercialize medicines. Rather than focusing primarily on selling drugs directly, Ligand licenses technologies and drug-development assets and may receive royalties and other payments from partner programs. Its technologies include Captisol, a formulation platform designed to improve the solubility and delivery of certain medicines. Ligand also holds economic interests in a portfolio of partnered products and drug candidates across multiple therapeutic areas.
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