Ligand Pharmaceuticals Major Shareholder Unloads $15,976,524 in Stock (LGND)
Ligand Pharmaceuticals (NASDAQ:LGND) major shareholder Bvf Partners P/Il sold 359,023 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $44.50, for a total transaction of $15,976,523.50. The sale was disclosed in a filing with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
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, September 11th. 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, September 11th. 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $55.50.
Ligand Pharmaceuticals (NASDAQ:LGND) traded down 5.13% during mid-day trading on Wednesday, hitting $41.76. 268,683 shares of the company’s stock traded hands. Ligand Pharmaceuticals has a one year low of $14.75 and a one year high of $50.85. The stock has a 50-day moving average of $45.28 and a 200-day moving average of $35.56. The company has a market cap of $853.6 million and a price-to-earnings ratio of 104.56.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly 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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