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Ligand Pharmaceuticals (NASDAQ:LGND) CEO John L. Higgins purchased 1,000 shares of Ligand Pharmaceuticals stock on the open market in a transaction dated Friday, August 15th. The shares were purchased at an average cost of $54.97 per share, for a total transaction of $54,970.00. Following the completion of the transaction, the chief executive officer now directly owns 120,099 shares of the company’s stock, valued at approximately $6,601,842. The acquisition 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 Zacks downgraded shares of Ligand Pharmaceuticals from a “neutral” rating to an “underperform” rating in a research note on Thursday, August 7th. They now have a $51.10 price target on the stock. Separately, analysts at Empire Asset Management initiated coverage on shares of Ligand Pharmaceuticals in a research note on Tuesday, July 22nd. They set a “sell” rating and a $16.00 price target on the stock. Finally, analysts at Roth Capital initiated coverage on shares of Ligand Pharmaceuticals in a research note on Wednesday, June 25th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Ligand Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $54.85.

Ligand Pharmaceuticals (NASDAQ:LGND) traded up 2.86% during mid-day trading on Friday, hitting $56.555. The stock had a trading volume of 450,396 shares. Ligand Pharmaceuticals has a 52-week low of $39.75 and a 52-week high of $80.42. The stock’s 50-day moving average is $55.64 and its 200-day moving average is $64.17. The company has a market cap of $1.175 billion and a price-to-earnings ratio of 152.30.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Monday, August 4th. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.14 by $0.10. The company had revenue of $10.60 million for the quarter, compared to the consensus estimate of $9.73 million. During the same quarter in the prior year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 10.4% on a year-over-year basis. On average, analysts predict that Ligand Pharmaceuticals will post $1.53 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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