Ligand Pharmaceuticals (NASDAQ:LGND) Director John Kozarich Sells 467 Shares

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director John Kozarich sold 467 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $231.80, for a total value of $108,250.60. Following the sale, the director directly owned 41,786 shares in the company, valued at approximately $9,685,994.80. This represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Ligand Pharmaceuticals Stock Performance

LGND traded down $2.23 during trading hours on Thursday, hitting $218.98. 151,157 shares of the stock were exchanged, compared to its average volume of 212,691. The stock 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 simple moving average of $214.39 and a 200-day simple moving average of $201.77. The company has a debt-to-equity ratio of 0.45, a current ratio of 21.28 and a quick ratio of 20.95. Ligand Pharmaceuticals Incorporated has a 12 month low of $98.89 and a 12 month high of $247.38.

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its position in Ligand Pharmaceuticals by 86.3% in the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock worth $26,000 after acquiring an additional 69 shares in the last quarter. Kestra Advisory Services LLC bought a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at about $31,000. Richardson Financial Services Inc. grew its stake in shares of Ligand Pharmaceuticals by 85.8% in the 3rd quarter. Richardson Financial Services Inc. now owns 210 shares of the biotechnology company’s stock worth $37,000 after purchasing an additional 97 shares during the last quarter. USA Financial Formulas bought a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $43,000. Finally, First Horizon Corp bought a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter worth approximately $47,000. 91.28% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LGND shares. Citigroup lifted their target price on Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a “buy” rating in a research note on Wednesday, April 15th. Wall Street Zen cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Oppenheimer upped their price target on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an “outperform” rating in a research note on Friday, February 27th. Bank of America began coverage on shares of Ligand Pharmaceuticals in a report on Wednesday, March 11th. They issued a “buy” rating and a $244.00 price objective for the company. Finally, Weiss Ratings upgraded shares of Ligand Pharmaceuticals from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Ligand Pharmaceuticals currently 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.