Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) VP Matthew E. Korenberg sold 6,559 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $142.63, for a total value of $935,510.17. Following the completion of the transaction, the vice president now owns 8,147 shares of the company’s stock, valued at approximately $1,162,006.61. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Ligand Pharmaceuticals Incorporated (LGND) traded down $1.27 during mid-day trading on Monday, hitting $129.30. The company’s stock had a trading volume of 175,435 shares, compared to its average volume of 248,484. Ligand Pharmaceuticals Incorporated has a 12 month low of $95.08 and a 12 month high of $149.31. The stock has a market capitalization of $2,755.74, a price-to-earnings ratio of 98.17, a price-to-earnings-growth ratio of 2.01 and a beta of 0.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a net margin of 12.76% and a return on equity of 7.83%. The business had revenue of $33.38 million during the quarter, compared to the consensus estimate of $31.04 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was up 54.4% compared to the same quarter last year. research analysts forecast that Ligand Pharmaceuticals Incorporated will post 2.37 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on LGND shares. HC Wainwright restated a “buy” rating and issued a $159.00 price target on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 22nd. Roth Capital reiterated a “buy” rating and issued a $158.00 price objective (up from $135.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 11th. Zacks Investment Research cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Thursday. TheStreet upgraded Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Finally, Deutsche Bank cut Ligand Pharmaceuticals from a “hold” rating to a “sell” rating and set a $105.00 price objective on the stock. in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $149.67.
A number of large investors have recently made changes to their positions in LGND. First Mercantile Trust Co. lifted its position in shares of Ligand Pharmaceuticals by 1.6% during the 2nd quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after acquiring an additional 20 shares during the period. Pinebridge Investments L.P. increased its stake in shares of Ligand Pharmaceuticals by 1.3% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,508 shares of the biotechnology company’s stock worth $304,000 after purchasing an additional 32 shares in the last quarter. Arizona State Retirement System grew its stake in Ligand Pharmaceuticals by 1.0% in the 2nd quarter. Arizona State Retirement System now owns 9,975 shares of the biotechnology company’s stock worth $1,211,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System grew its stake in 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 worth $947,000 after acquiring an additional 100 shares during the period. Finally, Capstone Asset Management Co. grew its stake in Ligand Pharmaceuticals by 3.7% in the 2nd quarter. Capstone Asset Management Co. now owns 2,813 shares of the biotechnology company’s stock worth $341,000 after acquiring an additional 100 shares during the period.
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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 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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