Ligand Pharmaceuticals Director David Knott Sells 160,000 Shares (LGND)
Ligand Pharmaceuticals (NASDAQ:LGND) Director David Knott unloaded 160,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $46.78, for a total value of $7,484,800.00. Following the completion of the transaction, the director now directly owns 63,743 shares of the company’s stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
LGND has been the subject of a number of recent research reports. Analysts at Cantor Fitzgerald reiterated a “sell” rating on shares of Ligand Pharmaceuticals (NASDAQ:LGND) in a research note to investors on Wednesday. They now have a $37.00 price target on the stock. Separately, analysts at MLV Capital raised their price target on shares of Ligand Pharmaceuticals (NASDAQ:LGND) to $62.00 in a research note to investors on Wednesday. They now have a “buy” rating on the stock. Finally, analysts at Summer Street raised their price target on shares of Ligand Pharmaceuticals (NASDAQ:LGND) from $36.00 to $64.00 in a research note to investors on Friday, August 2nd. They now have a “buy” rating on the stock.
One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $55.50.
Ligand Pharmaceuticals (NASDAQ:LGND) traded up 0.97% on Friday, hitting $47.01. 142,496 shares of the company’s stock traded hands. Ligand Pharmaceuticals has a 52 week low of $14.75 and a 52 week high of $50.85. The stock’s 50-day moving average is $45.76 and its 200-day moving average is $34.10. The company has a market cap of $960.9 million and a price-to-earnings ratio of 110.59.
Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, August 1st. The company reported $0.07 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.06 by $0.01. The company had revenue of $9.58 million for the quarter, compared to the consensus estimate of $9.48 million. The company’s quarterly revenue was up 66.8% on a year-over-year basis. On average, analysts predict that Ligand Pharmaceuticals will post $0.50 earnings per share for the current fiscal year.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) is a biotechnology company that operates with a business model focused on developing or acquiring assets.
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