Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) was down 7% during trading on Monday after an insider sold shares in the company. The company traded as low as $127.16 and last traded at $130.50. Approximately 899,385 shares changed hands during mid-day trading, an increase of 258% from the average daily volume of 250,994 shares. The stock had previously closed at $140.31.

Specifically, Director Jason Aryeh sold 2,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $127.99, for a total value of $255,980.00. Following the completion of the sale, the director now directly owns 59,625 shares in the company, valued at $7,631,403.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Matthew E. Korenberg sold 6,559 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $142.63, for a total value of $935,510.17. Following the completion of the sale, the vice president now owns 8,147 shares of the company’s stock, valued at $1,162,006.61. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,828 shares of company stock valued at $3,301,031. 8.30% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on LGND shares. Zacks Investment Research downgraded Ligand Pharmaceuticals from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 10th. HC Wainwright reiterated a “buy” rating and issued a $157.00 target price on shares of Ligand Pharmaceuticals in a report on Thursday, October 5th. Roth Capital reiterated a “buy” rating and issued a $158.00 target price (up from $135.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, October 11th. ValuEngine upgraded Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, TheStreet upgraded Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, August 7th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $149.00.

The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.95 and a current ratio of 0.97. The firm has a market capitalization of $2,961.31, a P/E ratio of 105.50, a P/E/G ratio of 2.17 and a beta of 0.94.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, November 9th. The biotechnology company reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.32. Ligand Pharmaceuticals had a return on equity of 7.83% and a net margin of 12.76%. The firm had revenue of $33.38 million during the quarter, compared to analysts’ expectations of $31.04 million. During the same quarter last year, the firm posted $0.62 earnings per share. The company’s revenue for the quarter was up 54.4% compared to the same quarter last year. analysts predict that Ligand Pharmaceuticals Incorporated will post 2.35 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the business. First Mercantile Trust Co. grew its stake in Ligand Pharmaceuticals by 1.6% in the second quarter. First Mercantile Trust Co. now owns 1,310 shares of the biotechnology company’s stock valued at $159,000 after acquiring an additional 20 shares during the period. Pinebridge Investments L.P. boosted its position in shares of Ligand Pharmaceuticals by 1.3% during the second quarter. Pinebridge Investments L.P. now owns 2,508 shares of the biotechnology company’s stock valued at $304,000 after buying an additional 32 shares during the last quarter. Capstone Asset Management Co. boosted its position in shares of Ligand Pharmaceuticals by 3.7% during the second quarter. Capstone Asset Management Co. now owns 2,813 shares of the biotechnology company’s stock valued at $341,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Ligand Pharmaceuticals by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 7,800 shares of the biotechnology company’s stock valued at $947,000 after buying an additional 100 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Ligand Pharmaceuticals by 1.0% during the second quarter. Arizona State Retirement System now owns 9,975 shares of the biotechnology company’s stock valued at $1,211,000 after buying an additional 100 shares during the last quarter.

ILLEGAL ACTIVITY WARNING: This article was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark laws. The original version of this article can be viewed at https://www.thecerbatgem.com/2017/11/21/ligand-pharmaceuticals-incorporated-lgnd-stock-price-down-7-after-insider-selling.html.

Ligand Pharmaceuticals Company Profile

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.

Receive News & Stock Ratings for Ligand Pharmaceuticals Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals Incorporated and related stocks with our FREE daily email newsletter.