Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) posted its quarterly earnings results on Monday. The biotechnology company reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.42, Bloomberg Earnings reports. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.18%. The firm had revenue of $28 million for the quarter, compared to analysts’ expectations of $24.40 million. During the same quarter in the prior year, the company posted $0.50 earnings per share. The business’s revenue for the quarter was up 43.6% on a year-over-year basis.

Shares of Ligand Pharmaceuticals (NASDAQ:LGND) opened at 128.4336 on Wednesday. The stock’s market cap is $2.70 billion. The company has a 50-day moving average of $120.33 and a 200 day moving average of $110.98. Ligand Pharmaceuticals has a one year low of $87.50 and a one year high of $128.92.

A number of research firms have recently commented on LGND. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Friday, June 23rd. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Monday, May 1st. Deutsche Bank AG increased their price target on shares of Ligand Pharmaceuticals from $103.00 to $104.00 and gave the company a “hold” rating in a report on Tuesday. Roth Capital set a $120.00 price target on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Monday, May 22nd. Finally, ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $132.47.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $114.87, for a total transaction of $1,378,440.00. Following the sale, the chief executive officer now owns 151,171 shares of the company’s stock, valued at approximately $17,365,012.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO John L. Higgins sold 4,666 shares of the business’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $120.00, for a total transaction of $559,920.00. Following the sale, the chief executive officer now directly owns 143,837 shares in the company, valued at approximately $17,260,440. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,534 shares of company stock worth $6,694,514. 14.70% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the stock. Tyers Asset Management LLC increased its stake in Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 196 shares during the period. LS Investment Advisors LLC boosted its position in Ligand Pharmaceuticals by 43.2% in the first quarter. LS Investment Advisors LLC now owns 1,197 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 361 shares in the last quarter. Flinton Capital Management LLC boosted its position in Ligand Pharmaceuticals by 23.3% in the first quarter. Flinton Capital Management LLC now owns 1,258 shares of the biotechnology company’s stock valued at $133,000 after buying an additional 238 shares in the last quarter. Strs Ohio boosted its position in Ligand Pharmaceuticals by 225.0% in the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock valued at $157,000 after buying an additional 900 shares in the last quarter. Finally, First Mercantile Trust Co. boosted its position in Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 20 shares in the last quarter.

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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.

Earnings History for Ligand Pharmaceuticals (NASDAQ:LGND)

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