Insider Buying: Ligand Pharmaceuticals Inc. (LGND) CEO Acquires $285,725.00 in Stock
Ligand Pharmaceuticals Inc. (NASDAQ:LGND) CEO John L. Higgins purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was bought at an average cost of $114.29 per share, for a total transaction of $285,725.00. Following the completion of the acquisition, the chief executive officer now directly owns 141,399 shares in the company, valued at approximately $16,160,491.71. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of NASDAQ:LGND opened at $119.03 on Monday. The company has a current ratio of 10.58, a quick ratio of 10.50 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $2.42 billion, a P/E ratio of 18.95, a P/E/G ratio of 0.18 and a beta of 1.37. Ligand Pharmaceuticals Inc. has a fifty-two week low of $98.56 and a fifty-two week high of $278.62.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, February 7th. The biotechnology company reported $1.70 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.48. The company had revenue of $59.59 million for the quarter, compared to the consensus estimate of $52.58 million. Ligand Pharmaceuticals had a net margin of 57.00% and a return on equity of 26.00%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 EPS. On average, analysts expect that Ligand Pharmaceuticals Inc. will post 32.16 EPS for the current year.
A number of equities analysts recently weighed in on LGND shares. HC Wainwright reissued a “buy” rating and issued a $254.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, March 13th. TheStreet downgraded shares of Ligand Pharmaceuticals from a “b-” rating to a “c+” rating in a report on Wednesday, January 2nd. Roth Capital cut their price target on shares of Ligand Pharmaceuticals from $195.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. ValuEngine downgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Tuesday, January 15th. Finally, Argus reissued a “buy” rating and issued a $150.00 price target (down from $200.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company. Ligand Pharmaceuticals has an average rating of “Buy” and a consensus target price of $210.57.
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; Aziyo portfolio of 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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