Ligand Pharmaceuticals Inc. (LGND) CEO Sells $4,318,816.30 in Stock

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) CEO John L. Higgins sold 28,099 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, January 19th. The shares were sold at an average price of $153.70, for a total value of $4,318,816.30. Following the completion of the transaction, the chief executive officer now directly owns 162,299 shares of the company’s stock, valued at $24,945,356.30. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Shares of Ligand Pharmaceuticals Inc. (NASDAQ LGND) traded up $3.79 during trading on Monday, hitting $159.60. The stock had a trading volume of 476,725 shares, compared to its average volume of 202,184. Ligand Pharmaceuticals Inc. has a 1-year low of $95.08 and a 1-year high of $161.51. The firm has a market capitalization of $3,370.00, a P/E ratio of 231.30, a PEG ratio of 1.67 and a beta of 0.91. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 EPS for the quarter, topping 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 the consensus estimate of $31.04 million. During the same period in the previous year, the company posted $0.62 earnings per share. The business’s revenue for the quarter was up 54.4% on a year-over-year basis. analysts forecast that Ligand Pharmaceuticals Inc. will post 3.15 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Ligand Pharmaceuticals by 2.6% during the second quarter. BlackRock Inc. now owns 2,683,880 shares of the biotechnology company’s stock worth $325,822,000 after buying an additional 68,887 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Ligand Pharmaceuticals by 3.2% during the second quarter. Vanguard Group Inc. now owns 1,741,818 shares of the biotechnology company’s stock worth $211,457,000 after buying an additional 54,200 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Ligand Pharmaceuticals by 26.7% during the third quarter. Janus Henderson Group PLC now owns 754,692 shares of the biotechnology company’s stock worth $102,751,000 after buying an additional 159,201 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in shares of Ligand Pharmaceuticals by 13.1% during the fourth quarter. Conestoga Capital Advisors LLC now owns 489,830 shares of the biotechnology company’s stock worth $67,072,000 after buying an additional 56,705 shares in the last quarter. Finally, Macquarie Group Ltd. grew its position in shares of Ligand Pharmaceuticals by 27.3% during the second quarter. Macquarie Group Ltd. now owns 471,058 shares of the biotechnology company’s stock worth $57,186,000 after buying an additional 101,073 shares in the last quarter.

Several research firms have weighed in on LGND. HC Wainwright reaffirmed a “buy” rating and issued a $169.00 target price on shares of Ligand Pharmaceuticals in a research report on Thursday. Craig Hallum reaffirmed a “buy” rating and issued a $170.00 target price (up from $160.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, November 15th. Roth Capital reaffirmed a “buy” rating and issued a $158.00 target price (up from $135.00) on shares of Ligand Pharmaceuticals in a research report 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 report on Thursday, October 12th. Finally, BidaskClub raised Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Ligand Pharmaceuticals has a consensus rating of “Buy” and an average price target of $150.67.

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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.

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