Ligand Pharmaceuticals (NASDAQ:LGND) Director Jason Haas Sells 6,461 Shares

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director Jason Haas sold 6,461 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $255.58, for a total transaction of $1,651,302.38. Following the completion of the transaction, the director owned 4,981 shares in the company, valued at approximately $1,273,043.98. This trade represents a 56.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Ligand Pharmaceuticals Trading Down 0.9%

NASDAQ LGND traded down $2.29 on Monday, hitting $253.25. 159,039 shares of the company were exchanged, compared to its average volume of 195,134. The company’s 50 day moving average price is $226.67 and its 200-day moving average price is $207.09. The company has a debt-to-equity ratio of 0.45, a current ratio of 21.28 and a quick ratio of 20.95. The firm has a market capitalization of $5.08 billion, a P/E ratio of 34.36, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. Ligand Pharmaceuticals Incorporated has a twelve month low of $110.00 and a twelve month high of $259.03.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.21). The company 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%.Ligand Pharmaceuticals’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. Analysts predict that Ligand Pharmaceuticals Incorporated will post 4.47 earnings per share for the current fiscal year.

Analyst Ratings Changes

LGND has been the topic of several recent analyst reports. Oppenheimer boosted their price objective on Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Wall Street Zen downgraded Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Bank of America began coverage on Ligand Pharmaceuticals in a report on Wednesday, March 11th. They set a “buy” rating and a $244.00 price objective on the stock. Royal Bank Of Canada lifted their target price 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, HC Wainwright lifted their target price on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the company a “buy” rating in a research note on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $257.71.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of the business. Cim Investment Management Inc. grew its stake in Ligand Pharmaceuticals by 3.4% during the 1st quarter. Cim Investment Management Inc. now owns 1,484 shares of the biotechnology company’s stock valued at $296,000 after acquiring an additional 49 shares in the last quarter. Maryland State Retirement & Pension System grew its stake in 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 valued at $543,000 after acquiring an additional 61 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Ligand Pharmaceuticals by 31.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 65 shares in the last quarter. CIBC Private Wealth Group LLC grew its stake in shares of Ligand Pharmaceuticals by 86.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 69 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of Ligand Pharmaceuticals by 3.0% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

About Ligand Pharmaceuticals

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.