Ligand Pharmaceuticals (NASDAQ:LGND) Director Jason Haas Sells 7,138 Shares

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director Jason Haas sold 7,138 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $292.81, for a total transaction of $2,090,077.78. Following the completion of the sale, the director directly owned 3,981 shares of the company’s stock, valued at approximately $1,165,676.61. This represents a 64.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Jason Haas also recently made the following trade(s):

• On Friday, June 12th, Jason Haas sold 6,461 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $255.58, for a total value of $1,651,302.38.

Ligand Pharmaceuticals Price Performance

NASDAQ LGND traded up $5.78 on Friday, reaching $294.60. 197,208 shares of the stock traded hands, compared to its average volume of 280,456. Ligand Pharmaceuticals Incorporated has a 12 month low of $149.51 and a 12 month high of $326.63. The company has a market cap of $5.87 billion, a price-to-earnings ratio of 31.51, a P/E/G ratio of 2.55 and a beta of 1.13. The firm’s fifty day simple moving average is $290.64 and its 200 day simple moving average is $238.17. The company has a quick ratio of 20.95, a current ratio of 34.52 and a debt-to-equity ratio of 1.16.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $1.97 by $0.40. The business had revenue of $63.69 million during the quarter, compared to analyst estimates of $61.30 million. Ligand Pharmaceuticals had a return on equity of 20.06% and a net margin of 67.88%.The company’s revenue was up 33.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.60 earnings per share. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. As a group, research analysts predict that Ligand Pharmaceuticals Incorporated will post 4.89 EPS for the current fiscal year.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Institutional investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC raised its holdings in Ligand Pharmaceuticals by 86.3% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock worth $26,000 after buying an additional 69 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth about $31,000. JPL Wealth Management LLC purchased a new position in shares of Ligand Pharmaceuticals in the third quarter worth approximately $52,000. Covestor Ltd increased its position in shares of Ligand Pharmaceuticals by 17,050.0% in the fourth quarter. Covestor Ltd now owns 343 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 341 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in shares of Ligand Pharmaceuticals by 1,040.0% during the fourth quarter. IFP Advisors Inc now owns 342 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 312 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

LGND has been the topic of a number of research reports. Weiss Ratings upgraded shares of Ligand Pharmaceuticals from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday. Royal Bank Of Canada raised their target price on shares of Ligand Pharmaceuticals from $340.00 to $345.00 and gave the stock an “outperform” rating in a report on Friday, August 7th. Bank of America raised their target price on shares of Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Oppenheimer restated an “outperform” rating and issued a $326.00 price target (up from $285.00) on shares of Ligand Pharmaceuticals in a research report on Monday, August 3rd. Finally, Stifel Nicolaus upped their price target on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals presently has a consensus rating of “Buy” and an average price target of $335.75.

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.