Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) VP Matthew E. Korenberg sold 6,559 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $142.63, for a total value of $935,510.17. Following the transaction, the vice president now directly owns 8,147 shares of the company’s stock, valued at approximately $1,162,006.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Ligand Pharmaceuticals Incorporated (LGND) traded down $1.40 during trading hours on Friday, hitting $140.31. The company had a trading volume of 251,757 shares, compared to its average volume of 248,087. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.97 and a quick ratio of 0.95. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $95.08 and a fifty-two week high of $149.31. The firm has a market cap of $3,061.77, a price-to-earnings ratio of 109.07, a price-to-earnings-growth ratio of 2.24 and a beta of 0.94.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, November 9th. The biotechnology company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The business had revenue of $33.38 million during the quarter, compared to analyst estimates of $31.04 million. During the same quarter last year, the company posted $0.62 EPS. Ligand Pharmaceuticals’s revenue for the quarter was up 54.4% on a year-over-year basis. analysts anticipate that Ligand Pharmaceuticals Incorporated will post 2.35 EPS for the current year.

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Several research analysts recently weighed in on the company. HC Wainwright reaffirmed a “buy” rating and set a $157.00 target price on shares of Ligand Pharmaceuticals in a research note on Monday, November 6th. Craig Hallum reaffirmed a “buy” rating and set a $170.00 target price (up previously from $160.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday. Roth Capital reaffirmed a “buy” rating and set a $158.00 target price (up previously from $135.00) on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 11th. Zacks Investment Research raised Ligand Pharmaceuticals from a “hold” rating to a “strong-buy” rating and set a $165.00 target price for the company in a research note on Thursday, October 12th. Finally, TheStreet raised Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th. Three analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $148.83.

Large investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its position in shares of Ligand Pharmaceuticals by 19.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 102,959 shares of the biotechnology company’s stock valued at $10,898,000 after purchasing an additional 16,899 shares during the period. Eagle Asset Management Inc. lifted its stake in Ligand Pharmaceuticals by 7.7% in the 2nd quarter. Eagle Asset Management Inc. now owns 490,841 shares of the biotechnology company’s stock worth $59,588,000 after acquiring an additional 35,289 shares in the last quarter. Round Table Services LLC purchased a new stake in Ligand Pharmaceuticals in the 3rd quarter worth about $205,000. Teacher Retirement System of Texas purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth about $203,000. Finally, Morse Asset Management Inc purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth about $1,078,000.

About Ligand Pharmaceuticals

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.

Insider Buying and Selling by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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