Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) CEO John L. Higgins sold 5,269 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $142.53, for a total value of $750,990.57. Following the completion of the sale, the chief executive officer now owns 143,542 shares of the company’s stock, valued at approximately $20,459,041.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Ligand Pharmaceuticals Incorporated (NASDAQ LGND) opened at $140.31 on Friday. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $95.08 and a fifty-two week high of $149.31. The stock has a market capitalization of $2,961.24, a PE ratio of 105.50, a price-to-earnings-growth ratio of 2.17 and a beta of 0.94. The company has a quick ratio of 0.95, a current ratio of 0.97 and a debt-to-equity ratio of 0.05.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The company had revenue of $33.38 million during the quarter, compared to the consensus estimate of $31.04 million. During the same period in the prior year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 54.4% compared to the same quarter last year. sell-side analysts predict that Ligand Pharmaceuticals Incorporated will post 2.35 EPS for the current fiscal year.
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A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 price objective for the company in a report on Thursday, October 12th. Stephens reiterated an “overweight” rating and issued a $137.00 price objective (up previously from $125.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, August 9th. Craig Hallum reiterated a “buy” rating and issued a $170.00 price objective (up previously from $160.00) on shares of Ligand Pharmaceuticals in a report on Wednesday. HC Wainwright set a $157.00 price objective on Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Tuesday, October 24th. Finally, Deutsche Bank AG upped their price objective on Ligand Pharmaceuticals from $103.00 to $104.00 and gave the company a “hold” rating in a report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $148.83.
Several institutional investors have recently made changes to their positions in the business. Coe Capital Management LLC bought a new stake in shares of Ligand Pharmaceuticals in the third quarter worth about $948,000. Piedmont Investment Advisors LLC increased its holdings in shares of Ligand Pharmaceuticals by 10.7% in the third quarter. Piedmont Investment Advisors LLC now owns 4,556 shares of the biotechnology company’s stock worth $620,000 after acquiring an additional 440 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Ligand Pharmaceuticals by 5.2% during the third quarter. California Public Employees Retirement System now owns 41,449 shares of the biotechnology company’s stock worth $5,643,000 after buying an additional 2,049 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Ligand Pharmaceuticals during the third quarter worth about $3,857,000. Finally, Granahan Investment Management Inc. MA boosted its position in shares of Ligand Pharmaceuticals by 8.0% during the third quarter. Granahan Investment Management Inc. MA now owns 35,272 shares of the biotechnology company’s stock worth $4,802,000 after buying an additional 2,602 shares during the period.
Ligand Pharmaceuticals Company Profile
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 is involved in the development and licensing of biopharmaceutical assets. 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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