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Ligand Pharmaceuticals (NASDAQ:LGND) CEO John L. Higgins acquired 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, with a total value of $54,970.00. Following the completion of the acquisition, the chief executive officer now directly owns 120,099 shares of the company’s stock, valued at approximately $6,601,842. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

A number of analysts have recently weighed in on LGND shares. 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 equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. Ligand Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $54.85.

Ligand Pharmaceuticals (NASDAQ:LGND) traded up 2.93% on Friday, hitting $56.59. 477,363 shares of the company’s stock traded hands. 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 $55.48 and its 200-day moving average is $64.15. The company has a market cap of $1.176 billion and a price-to-earnings ratio of 152.30.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its earnings data on Monday, August 4th. The company reported $0.24 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $0.07 earnings per share. Ligand Pharmaceuticals’s revenue was up 10.4% compared to the same quarter last year. 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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