Insider Selling: Ligand Pharmaceuticals (NASDAQ:LGND) Director Sells 467 Shares of Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director John Kozarich sold 467 shares of the business’s stock in a transaction dated Friday, January 2nd. The stock was sold at an average price of $189.58, for a total value of $88,533.86. Following the completion of the sale, the director directly owned 43,654 shares of the company’s stock, valued at $8,275,925.32. This represents a 1.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Ligand Pharmaceuticals Stock Up 2.1%

Shares of NASDAQ LGND traded up $3.99 during mid-day trading on Tuesday, reaching $196.02. 144,517 shares of the company traded hands, compared to its average volume of 176,680. The company’s fifty day moving average is $196.01 and its two-hundred day moving average is $168.67. The company has a debt-to-equity ratio of 0.47, a quick ratio of 24.30 and a current ratio of 24.69. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $93.58 and a fifty-two week high of $212.49. The stock has a market cap of $3.86 billion, a PE ratio of 94.70 and a beta of 0.97.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $1.13. Ligand Pharmaceuticals had a return on equity of 5.71% and a net margin of 19.34%.The firm had revenue of $86.89 million during the quarter, compared to analysts’ expectations of $58.71 million. During the same quarter in the prior year, the business earned $1.84 earnings per share. The company’s revenue was up 123.0% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. On average, analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

LGND has been the topic of several recent research reports. Citigroup began coverage on Ligand Pharmaceuticals in a report on Tuesday, December 9th. They set a “buy” rating and a $270.00 price objective on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a report on Monday, December 29th. Benchmark increased their price target on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Oppenheimer boosted their price objective on shares of Ligand Pharmaceuticals from $190.00 to $250.00 and gave the stock an “outperform” rating in a research report on Monday, November 3rd. Finally, Stifel Nicolaus upped their price objective on Ligand Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $239.33.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Several hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC acquired a new position in shares of Ligand Pharmaceuticals during the 3rd quarter worth approximately $26,000. CIBC Private Wealth Group LLC lifted its stake in Ligand Pharmaceuticals by 86.3% in the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 69 shares during the last quarter. Maseco LLP bought a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $31,000. Richardson Financial Services Inc. grew its position in shares of Ligand Pharmaceuticals by 85.8% in the 3rd quarter. Richardson Financial Services Inc. now owns 210 shares of the biotechnology company’s stock valued at $37,000 after acquiring an additional 97 shares during the period. Finally, First Horizon Corp acquired a new position in shares of Ligand Pharmaceuticals during the 3rd quarter worth about $47,000. Institutional investors own 91.28% of the company’s stock.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.