Insider Selling: Ligand Pharmaceuticals COO Unloads 22,500 Shares of Stock (LGND)
Ligand Pharmaceuticals (NASDAQ:LGND) COO Matthew W. Foehr sold 22,500 shares of Ligand Pharmaceuticals stock on the open market in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $79.54, for a total transaction of $1,789,650.00. Following the completion of the transaction, the chief operating officer now directly owns 53,457 shares of the company’s stock, valued at approximately $4,251,970. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Ligand Pharmaceuticals (NASDAQ:LGND) traded down 2.82% during mid-day trading on Friday, hitting $76.92. 553,171 shares of the company’s stock traded hands. Ligand Pharmaceuticals has a one year low of $20.21 and a one year high of $80.42. The stock’s 50-day moving average is $61.02 and its 200-day moving average is $52.17. The company has a market cap of $1.570 billion and a price-to-earnings ratio of 152.50.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings data on Tuesday, February 11th. The company reported $0.35 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.16. The company had revenue of $14.70 million for the quarter, compared to the consensus estimate of $13.72 million. Ligand Pharmaceuticals’s revenue was up 8.1% compared to the same quarter last year. Analysts expect that Ligand Pharmaceuticals will post $1.31 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at TheStreet upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Thursday. Separately, analysts at Roth Capital raised their price target on shares of Ligand Pharmaceuticals from $69.00 to $92.00 in a research note on Wednesday. They now have a “positive” rating on the stock. Finally, analysts at MLV Capital raised their price target on shares of Ligand Pharmaceuticals to $82.00 in a research note on Monday. They now have a “buy” rating on the stock. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $67.07.
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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