Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) CEO John L. Higgins sold 5,269 shares of the business’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 transaction, the chief executive officer now directly owns 143,542 shares of the company’s stock, valued at approximately $20,459,041.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Ligand Pharmaceuticals Incorporated (NASDAQ LGND) traded down $1.27 during trading on Monday, hitting $129.30. The company had a trading volume of 175,435 shares, compared to its average volume of 248,484. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.05. Ligand Pharmaceuticals Incorporated has a 1 year low of $95.08 and a 1 year high of $149.31. The stock has a market cap of $2,755.74, a price-to-earnings ratio of 98.17, a PEG ratio of 2.01 and a beta of 0.91.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $33.38 million during the quarter, compared to analyst estimates of $31.04 million. During the same quarter in the previous year, the business earned $0.62 EPS. Ligand Pharmaceuticals’s revenue for the quarter was up 54.4% compared to the same quarter last year. sell-side analysts anticipate that Ligand Pharmaceuticals Incorporated will post 2.37 earnings per share for the current fiscal year.
Several institutional investors have recently made changes to their positions in the stock. First Mercantile Trust Co. increased its stake in shares of Ligand Pharmaceuticals by 1.6% in the 2nd quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after purchasing an additional 20 shares in the last quarter. Pinebridge Investments L.P. increased its stake in shares of Ligand Pharmaceuticals by 1.3% in the 2nd quarter. Pinebridge Investments L.P. now owns 2,508 shares of the biotechnology company’s stock valued at $304,000 after purchasing an additional 32 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Ligand Pharmaceuticals by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 9,975 shares of the biotechnology company’s stock valued at $1,211,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Ligand Pharmaceuticals by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the biotechnology company’s stock valued at $947,000 after purchasing an additional 100 shares in the last quarter. Finally, Capstone Asset Management Co. increased its stake in Ligand Pharmaceuticals by 3.7% during the 2nd quarter. Capstone Asset Management Co. now owns 2,813 shares of the biotechnology company’s stock worth $341,000 after buying an additional 100 shares in the last quarter.
Several equities analysts have recently issued reports on the company. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Zacks Investment Research cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Thursday. HC Wainwright reissued a “buy” rating and issued a $159.00 price objective on shares of Ligand Pharmaceuticals in a report on Wednesday, November 22nd. TheStreet raised Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, August 7th. Finally, Roth Capital boosted their price objective on Ligand Pharmaceuticals from $120.00 to $135.00 and gave the company a “buy” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $149.67.
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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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