Matthew E. Korenberg Sells 18,357 Shares of Ligand Pharmaceuticals Inc. (LGND) Stock
Ligand Pharmaceuticals Inc. (NASDAQ:LGND) EVP Matthew E. Korenberg sold 18,357 shares of the firm’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $256.69, for a total transaction of $4,712,058.33. Following the completion of the transaction, the executive vice president now directly owns 25,099 shares of the company’s stock, valued at $6,442,662.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of NASDAQ:LGND opened at $257.62 on Friday. Ligand Pharmaceuticals Inc. has a one year low of $123.11 and a one year high of $259.89. The company has a quick ratio of 2.32, a current ratio of 2.34 and a debt-to-equity ratio of 0.96. The firm has a market capitalization of $5.42 billion, a price-to-earnings ratio of 100.07, a PEG ratio of 1.79 and a beta of 0.91.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings data on Monday, August 6th. The biotechnology company reported $2.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.34 by $0.25. Ligand Pharmaceuticals had a net margin of 52.10% and a return on equity of 25.95%. The company had revenue of $90.00 million during the quarter, compared to the consensus estimate of $82.20 million. During the same period in the previous year, the firm posted $0.67 EPS. The firm’s revenue was up 221.4% compared to the same quarter last year. equities analysts expect that Ligand Pharmaceuticals Inc. will post 5.74 earnings per share for the current fiscal year.
LGND has been the subject of several analyst reports. HC Wainwright set a $249.00 price target on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Friday, July 27th. Stephens reissued a “buy” rating and issued a $248.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, August 8th. Goldman Sachs Group initiated coverage on shares of Ligand Pharmaceuticals in a report on Friday, August 17th. They issued a “neutral” rating and a $256.00 price target for the company. TheStreet raised shares of Ligand Pharmaceuticals from a “c+” rating to an “a-” rating in a report on Wednesday, May 9th. Finally, Craig Hallum raised their price target on shares of Ligand Pharmaceuticals from $230.00 to $260.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $208.57.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
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