Jason Aryeh Sells 2,000 Shares of Ligand Pharmaceuticals Incorporated (LGND) Stock
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director Jason Aryeh sold 2,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $127.99, for a total transaction of $255,980.00. Following the transaction, the director now owns 59,625 shares in the company, valued at $7,631,403.75. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) opened at 124.05 on Friday. The company has a market cap of $2.61 billion, a PE ratio of 302.56 and a beta of 0.96. The firm has a 50-day moving average price of $122.91 and a 200-day moving average price of $113.41. Ligand Pharmaceuticals Incorporated has a 52-week low of $87.50 and a 52-week high of $129.94.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Monday, August 7th. The biotechnology company reported $0.67 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.42. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The firm had revenue of $28 million for the quarter, compared to analysts’ expectations of $24.40 million. During the same period in the previous year, the firm posted $0.50 earnings per share. The business’s revenue was up 43.6% compared to the same quarter last year. On average, analysts forecast that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current year.
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A number of brokerages have recently commented on LGND. Deutsche Bank AG reaffirmed a “hold” rating and issued a $103.00 price target (up from $100.00) on shares of Ligand Pharmaceuticals in a research note on Monday, July 17th. BidaskClub cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. TheStreet raised Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a research note on Monday, August 7th. ValuEngine raised Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Finally, Zacks Investment Research raised Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $133.71.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tyers Asset Management LLC boosted its position in Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock worth $110,000 after buying an additional 196 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of Ligand Pharmaceuticals by 43.2% in the first quarter. LS Investment Advisors LLC now owns 1,197 shares of the biotechnology company’s stock worth $127,000 after buying an additional 361 shares during the last quarter. Flinton Capital Management LLC raised its stake in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Flinton Capital Management LLC now owns 1,258 shares of the biotechnology company’s stock worth $133,000 after buying an additional 238 shares during the last quarter. Strs Ohio raised its stake in shares of Ligand Pharmaceuticals by 225.0% in the second quarter. Strs Ohio now owns 1,300 shares of the biotechnology company’s stock worth $157,000 after buying an additional 900 shares during the last quarter. Finally, First Mercantile Trust Co. raised its stake in shares of Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock worth $159,000 after buying an additional 20 shares during the last quarter.
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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