Ligand Pharmaceuticals (NASDAQ:LGND) Director John Kozarich Sells 1,575 Shares

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director John Kozarich sold 1,575 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $223.50, for a total value of $352,012.50. Following the transaction, the director owned 41,786 shares in the company, valued at approximately $9,339,171. The trade was a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ligand Pharmaceuticals Trading Down 1.0%

NASDAQ:LGND traded down $2.23 on Thursday, reaching $218.98. The company’s stock had a trading volume of 151,157 shares, compared to its average volume of 212,691. The company has a quick ratio of 20.95, a current ratio of 21.28 and a debt-to-equity ratio of 0.45. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 29.71, a price-to-earnings-growth ratio of 1.79 and a beta of 1.20. The stock has a 50 day moving average price of $214.39 and a 200 day moving average price of $201.77. Ligand Pharmaceuticals Incorporated has a 12-month low of $98.89 and a 12-month high of $247.38.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, May 14th. The biotechnology company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.21). The firm had revenue of $51.72 million for the quarter, compared to analyst estimates of $59.10 million. Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $1.33 earnings per share. On average, equities analysts anticipate that Ligand Pharmaceuticals Incorporated will post 5.46 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ashton Thomas Private Wealth LLC increased its position in shares of Ligand Pharmaceuticals by 2.9% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,014 shares of the biotechnology company’s stock valued at $357,000 after purchasing an additional 56 shares during the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Ligand Pharmaceuticals by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock worth $543,000 after purchasing an additional 61 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Ligand Pharmaceuticals by 31.6% during the third quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 65 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Ligand Pharmaceuticals by 86.3% during the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Ligand Pharmaceuticals by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,688 shares of the biotechnology company’s stock valued at $527,000 after buying an additional 78 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on LGND shares. Oppenheimer increased their price target on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Wall Street Zen cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. HC Wainwright upped their price objective on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a “buy” rating in a research report on Thursday, April 30th. Royal Bank Of Canada increased their price objective on Ligand Pharmaceuticals from $252.00 to $262.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Weiss Ratings upgraded Ligand Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.71.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.