Ligand Pharmaceuticals Inc. (NASDAQ:LGND) CEO John L. Higgins sold 3,000 shares of the company’s stock in a transaction on Thursday, September 22nd. The shares were sold at an average price of $117.34, for a total transaction of $352,020.00. Following the completion of the sale, the chief executive officer now owns 122,664 shares of the company’s stock, valued at approximately $14,393,393.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Ligand Pharmaceuticals Inc. (NASDAQ:LGND) opened at 115.78 on Friday. The firm has a market capitalization of $2.41 billion, a PE ratio of 10.92 and a beta of 1.27. Ligand Pharmaceuticals Inc. has a 1-year low of $79.66 and a 1-year high of $139.79. The stock’s 50 day moving average is $111.33 and its 200-day moving average is $116.75.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, August 4th. The biotechnology company reported $0.50 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.10. The firm had revenue of $19.50 million for the quarter, compared to analysts’ expectations of $18.12 million. Ligand Pharmaceuticals had a return on equity of 11.64% and a net margin of 263.14%. Ligand Pharmaceuticals’s revenue was up 6.0% on a year-over-year basis. During the same quarter last year, the business posted $1.81 EPS. Equities research analysts forecast that Ligand Pharmaceuticals Inc. will post $3.45 EPS for the current year.
Several analysts recently commented on the stock. Roth Capital reiterated a “buy” rating and issued a $151.00 price target on shares of Ligand Pharmaceuticals in a research report on Tuesday. Deutsche Bank AG raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating and dropped their price objective for the company from $110.00 to $105.00 in a research note on Wednesday, September 7th. They noted that the move was a valuation call. Vetr raised shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating and set a $128.29 price objective on the stock in a research note on Wednesday, August 10th. Finally, Zacks Investment Research raised shares of Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $135.00 price objective on the stock in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $136.47.
A number of institutional investors have recently modified their holdings of LGND. State Street Corp boosted its position in shares of Ligand Pharmaceuticals by 10.1% in the first quarter. State Street Corp now owns 699,788 shares of the biotechnology company’s stock worth $74,940,000 after buying an additional 64,410 shares in the last quarter. BlackRock Inc. boosted its position in shares of Ligand Pharmaceuticals by 165.1% in the first quarter. BlackRock Inc. now owns 1,381 shares of the biotechnology company’s stock worth $147,000 after buying an additional 860 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of Ligand Pharmaceuticals during the second quarter worth $572,000. LPL Financial LLC bought a new position in shares of Ligand Pharmaceuticals during the first quarter worth $269,000. Finally, BlackRock Fund Advisors boosted its position in shares of Ligand Pharmaceuticals by 1.8% in the first quarter. BlackRock Fund Advisors now owns 1,377,004 shares of the biotechnology company’s stock worth $147,463,000 after buying an additional 23,969 shares in the last quarter.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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