Ligand Pharmaceuticals (NASDAQ:LGND) Insider Andrew Reardon Sells 5,000 Shares of Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) insider Andrew Reardon sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $286.09, for a total value of $1,430,450.00. Following the transaction, the insider directly owned 36,514 shares of the company’s stock, valued at $10,446,290.26. This trade represents a 12.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Reardon also recently made the following trade(s):

• On Monday, August 3rd, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $288.99, for a total value of $1,444,950.00.
• On Wednesday, July 1st, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $313.28, for a total transaction of $1,566,400.00.

Ligand Pharmaceuticals Stock Performance

Shares of LGND traded up $3.23 during mid-day trading on Tuesday, reaching $288.83. 216,420 shares of the company’s stock traded hands, compared to its average volume of 270,998. The business’s 50-day moving average price is $297.27 and its 200-day moving average price is $249.61. The company has a debt-to-equity ratio of 1.16, a quick ratio of 30.96 and a current ratio of 31.18. The stock has a market capitalization of $5.76 billion, a P/E ratio of 30.89, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11. Ligand Pharmaceuticals Incorporated has a 12 month low of $161.82 and a 12 month high of $326.63.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.40. The company 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 firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.60 EPS. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. Equities analysts predict that Ligand Pharmaceuticals Incorporated will post 5.29 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on LGND. Oppenheimer reiterated an “outperform” rating and issued a $326.00 price objective (up from $285.00) on shares of Ligand Pharmaceuticals in a report on Monday, August 3rd. Citigroup began coverage on Ligand Pharmaceuticals in a report on Tuesday, July 21st. They set a “buy” rating and a $387.00 target price on the stock. HC Wainwright increased their price target on Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Leerink Partners initiated coverage on Ligand Pharmaceuticals in a research report on Friday, August 14th. They set an “outperform” rating and a $330.00 price target on the stock. Finally, Weiss Ratings raised Ligand Pharmaceuticals from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Nine investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $335.75.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC grew its stake in shares of Ligand Pharmaceuticals by 5.7% in the 2nd quarter. GAMMA Investing LLC now owns 681 shares of the biotechnology company’s stock worth $215,000 after purchasing an additional 37 shares during the last quarter. Cim Investment Management Inc. boosted its holdings in Ligand Pharmaceuticals by 3.4% during the first quarter. Cim Investment Management Inc. now owns 1,484 shares of the biotechnology company’s stock worth $296,000 after buying an additional 49 shares in the last quarter. Maryland State Retirement & Pension System boosted its holdings in Ligand Pharmaceuticals by 2.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock worth $543,000 after buying an additional 61 shares in the last quarter. CIBC Private Wealth Group LLC grew its position 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 worth $26,000 after buying an additional 69 shares during the last quarter. Finally, BTG Pactual Asset Management US LLC grew its position in Ligand Pharmaceuticals by 7.1% in the second quarter. BTG Pactual Asset Management US LLC now owns 1,123 shares of the biotechnology company’s stock worth $355,000 after buying an additional 74 shares during the last quarter. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Company Profile

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.