Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Insider Matthew W. Foehr Sells 6,100 Shares
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) insider Matthew W. Foehr sold 6,100 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $127.51, for a total transaction of $777,811.00. Following the completion of the sale, the insider now owns 101,020 shares of the company’s stock, valued at approximately $12,881,060.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Ligand Pharmaceuticals Incorporated (LGND) traded down 1.57% during trading on Thursday, reaching $124.98. 264,155 shares of the company’s stock traded hands. The stock has a market cap of $2.63 billion, a price-to-earnings ratio of 304.83 and a beta of 0.96. Ligand Pharmaceuticals Incorporated has a 52-week low of $87.50 and a 52-week high of $129.94. The company’s 50 day moving average is $121.23 and its 200-day moving average is $111.56.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.42. Ligand Pharmaceuticals had a net margin of 7.39% and a return on equity of 5.05%. The firm had revenue of $28 million for the quarter, compared to the consensus estimate of $24.40 million. During the same period in the prior year, the firm posted $0.50 earnings per share. The company’s revenue for the quarter was up 43.6% on a year-over-year basis. On average, analysts anticipate that Ligand Pharmaceuticals Incorporated will post $2.95 earnings per share for the current fiscal year.
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Several analysts have weighed in on the stock. ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday. Stephens reiterated an “overweight” rating and issued a $137.00 price objective (up previously from $125.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday. TheStreet upgraded shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday. Deutsche Bank AG lifted their price objective on shares of Ligand Pharmaceuticals from $103.00 to $104.00 and gave the stock a “hold” rating in a research note on Tuesday. Finally, Roth Capital lifted their price objective on shares of Ligand Pharmaceuticals from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $133.04.
Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth $19,500,000. Capstone Asset Management Co. increased its stake in shares of Ligand Pharmaceuticals by 4.6% in the first quarter. Capstone Asset Management Co. now owns 2,713 shares of the biotechnology company’s stock worth $287,000 after buying an additional 120 shares in the last quarter. Campbell Newman Asset Management Inc. increased its stake in shares of Ligand Pharmaceuticals by 13.6% in the first quarter. Campbell Newman Asset Management Inc. now owns 2,380 shares of the biotechnology company’s stock worth $252,000 after buying an additional 285 shares in the last quarter. Parametrica Management Ltd bought a new stake in shares of Ligand Pharmaceuticals during the first quarter worth $205,000. Finally, Atria Investments LLC increased its stake in shares of Ligand Pharmaceuticals by 19.5% in the first quarter. Atria Investments LLC now owns 2,455 shares of the biotechnology company’s stock worth $260,000 after buying an additional 401 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 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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