Ligand Pharmaceuticals Inc. (NASDAQ:LGND) SVP Charles S. Berkman sold 19,417 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $254.99, for a total value of $4,951,140.83. Following the completion of the sale, the senior vice president now directly owns 28,232 shares of the company’s stock, valued at $7,198,877.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
NASDAQ LGND opened at $251.78 on Friday. The firm has a market capitalization of $5.48 billion, a P/E ratio of 97.97, a P/E/G ratio of 1.81 and a beta of 0.99. Ligand Pharmaceuticals Inc. has a 12 month low of $126.50 and a 12 month high of $261.33. The company has a quick ratio of 2.32, a current ratio of 2.34 and a debt-to-equity ratio of 0.96.
Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Monday, August 6th. The biotechnology company reported $2.59 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.25. The business had revenue of $90.00 million during the quarter, compared to analyst estimates of $82.20 million. Ligand Pharmaceuticals had a return on equity of 25.95% and a net margin of 52.10%. Ligand Pharmaceuticals’s quarterly revenue was up 221.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 EPS. equities analysts expect that Ligand Pharmaceuticals Inc. will post 5.74 EPS for the current year.
Institutional investors have recently made changes to their positions in the company. Mount Yale Investment Advisors LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 1st quarter valued at $118,000. Fred Alger Management Inc. purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $207,000. World Asset Management Inc purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $214,000. Cim LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $215,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at $218,000.
A number of research firms recently commented on LGND. Roth Capital reissued a “neutral” rating on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 8th. They noted that the move was a valuation call. Stephens reissued a “buy” rating and issued a $248.00 price target on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 8th. HC Wainwright reissued a “buy” rating and issued a $249.00 price target on shares of Ligand Pharmaceuticals in a research report on Tuesday, August 7th. Craig Hallum increased their price target on Ligand Pharmaceuticals from $230.00 to $260.00 and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, Goldman Sachs Group began coverage on Ligand Pharmaceuticals in a research report on Friday, August 17th. They issued a “neutral” rating and a $256.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $208.57.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
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