Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) announced its quarterly earnings data on Monday. The biotechnology company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.25 by $0.42, Bloomberg Earnings reports. The firm had revenue of $28 million for the quarter, compared to analyst estimates of $24.40 million. Ligand Pharmaceuticals had a positive return on equity of 2.57% and a negative net margin of 2.91%. The company’s revenue was up 43.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 EPS.

Shares of Ligand Pharmaceuticals (LGND) traded up 3.60% during trading on Tuesday, hitting $126.21. The stock had a trading volume of 65,255 shares. The company’s market cap is $2.65 billion. Ligand Pharmaceuticals has a 12 month low of $87.50 and a 12 month high of $130.06. The stock has a 50 day moving average of $119.76 and a 200 day moving average of $110.74.

In other news, CEO John L. Higgins sold 12,000 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $114.87, for a total value of $1,378,440.00. Following the sale, the chief executive officer now directly owns 151,171 shares of the company’s stock, valued at $17,365,012.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jason Aryeh sold 37,247 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, May 12th. The stock was sold at an average price of $110.76, for a total value of $4,125,477.72. Following the completion of the sale, the director now directly owns 58,959 shares in the company, valued at $6,530,298.84. The disclosure for this sale can be found here. Insiders sold 59,534 shares of company stock worth $6,694,514 over the last ninety days. Insiders own 14.70% of the company’s stock.

A number of large investors have recently modified their holdings of the company. Independent Portfolio Consultants Inc. boosted its stake in shares of Ligand Pharmaceuticals by 1.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,555 shares of the biotechnology company’s stock valued at $165,000 after buying an additional 15 shares during the last quarter. First Mercantile Trust Co. boosted its stake in shares of Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after buying an additional 20 shares during the last quarter. State of Alaska Department of Revenue boosted its stake in shares of Ligand Pharmaceuticals by 1.9% in the first quarter. State of Alaska Department of Revenue now owns 2,100 shares of the biotechnology company’s stock valued at $222,000 after buying an additional 40 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its stake in shares of Ligand Pharmaceuticals by 0.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 4,350 shares of the biotechnology company’s stock valued at $460,000 after buying an additional 40 shares during the last quarter. Finally, Eqis Capital Management Inc. boosted its stake in shares of Ligand Pharmaceuticals by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 8,609 shares of the biotechnology company’s stock valued at $1,045,000 after buying an additional 51 shares during the last quarter.

Several equities analysts have recently commented on the company. BidaskClub upgraded Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Monday, May 1st. Roth Capital set a $120.00 price objective on Ligand Pharmaceuticals and gave the company a “buy” rating in a research report on Monday, May 22nd. ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Deutsche Bank AG reiterated a “hold” rating and set a $103.00 price objective (up from $100.00) on shares of Ligand Pharmaceuticals in a research report on Monday, July 17th. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Ligand Pharmaceuticals has a consensus rating of “Buy” and an average target price of $132.33.

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Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.

Earnings History for Ligand Pharmaceuticals (NASDAQ:LGND)

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