Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) CFO Octavio Espinoza Sells 5,156 Shares of Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Free Report) CFO Octavio Espinoza sold 5,156 shares of Ligand Pharmaceuticals stock in a transaction on Friday, May 17th. The shares were sold at an average price of $86.66, for a total value of $446,818.96. Following the completion of the transaction, the chief financial officer now owns 23,379 shares of the company’s stock, valued at $2,026,024.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Octavio Espinoza also recently made the following trade(s):

  • On Wednesday, May 15th, Octavio Espinoza sold 5,873 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $86.01, for a total value of $505,136.73.
  • On Wednesday, February 28th, Octavio Espinoza sold 140 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $88.46, for a total transaction of $12,384.40.

Ligand Pharmaceuticals Trading Up 1.2 %

Shares of NASDAQ LGND opened at $86.06 on Friday. The business has a 50-day moving average of $75.54 and a 200-day moving average of $70.69. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 16.65 and a beta of 1.01. Ligand Pharmaceuticals Incorporated has a 12 month low of $49.24 and a 12 month high of $94.57.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Free Report) last issued its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $3.01. The firm had revenue of $30.90 million for the quarter, compared to analyst estimates of $27.92 million. Ligand Pharmaceuticals had a net margin of 79.30% and a return on equity of 8.52%. The business’s revenue for the quarter was down 29.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 EPS. On average, analysts predict that Ligand Pharmaceuticals Incorporated will post 3.41 earnings per share for the current year.

Institutional Investors Weigh In On Ligand Pharmaceuticals

A number of large investors have recently added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its holdings in shares of Ligand Pharmaceuticals by 59.1% in the 4th quarter. Pacer Advisors Inc. now owns 325,727 shares of the biotechnology company’s stock worth $23,263,000 after purchasing an additional 121,049 shares in the last quarter. Impax Asset Management Group plc grew its position in Ligand Pharmaceuticals by 11.3% during the fourth quarter. Impax Asset Management Group plc now owns 205,208 shares of the biotechnology company’s stock valued at $14,656,000 after acquiring an additional 20,888 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Ligand Pharmaceuticals by 98.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 37,173 shares of the biotechnology company’s stock valued at $2,655,000 after acquiring an additional 18,472 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its stake in shares of Ligand Pharmaceuticals by 356.2% during the fourth quarter. China Universal Asset Management Co. Ltd. now owns 2,012 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 1,571 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in shares of Ligand Pharmaceuticals by 43.0% in the 3rd quarter. Deutsche Bank AG now owns 136,229 shares of the biotechnology company’s stock worth $8,163,000 after acquiring an additional 40,958 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analyst Weigh In

LGND has been the topic of a number of analyst reports. Benchmark reaffirmed a “buy” rating and set a $95.00 target price on shares of Ligand Pharmaceuticals in a report on Friday, April 12th. HC Wainwright reaffirmed a “buy” rating and issued a $144.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, May 8th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $116.33.

Get Our Latest Research Report on LGND

Ligand Pharmaceuticals Company Profile

(Get Free Report)

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

Further Reading

Insider Buying and Selling by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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