Insider Selling: Ligand Pharmaceuticals (NASDAQ:LGND) Director Sells $88,533.86 in Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director John Kozarich sold 467 shares of Ligand Pharmaceuticals stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $189.58, for a total value of $88,533.86. Following the completion of the sale, the director directly owned 43,654 shares of the company’s stock, valued at approximately $8,275,925.32. This represents a 1.06% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ligand Pharmaceuticals Stock Up 0.1%

LGND opened at $200.07 on Friday. Ligand Pharmaceuticals Incorporated has a 12 month low of $93.58 and a 12 month high of $212.49. The business has a 50-day moving average of $196.58 and a two-hundred day moving average of $169.10. The company has a debt-to-equity ratio of 0.47, a current ratio of 24.69 and a quick ratio of 24.30. The stock has a market capitalization of $3.94 billion, a price-to-earnings ratio of 96.65 and a beta of 0.97.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $1.96 by $1.13. Ligand Pharmaceuticals had a net margin of 19.34% and a return on equity of 5.71%. The business had revenue of $86.89 million for the quarter, compared to analyst estimates of $58.71 million. During the same period in the prior year, the firm posted $1.84 EPS. The company’s revenue was up 123.0% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. On average, research analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on LGND. Stifel Nicolaus boosted their price objective on shares of Ligand Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Citigroup initiated coverage on shares of Ligand Pharmaceuticals in a research report on Tuesday, December 9th. They set a “buy” rating and a $270.00 price target for the company. Benchmark increased their price target on Ligand Pharmaceuticals from $175.00 to $220.00 and gave the company a “buy” rating in a report on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a research note on Monday, December 29th. Finally, Royal Bank Of Canada increased their target price on Ligand Pharmaceuticals from $234.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $239.33.

Institutional Trading of Ligand Pharmaceuticals

Large investors have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC lifted its stake in shares of Ligand Pharmaceuticals by 2.9% in the third quarter. Ashton Thomas Private Wealth LLC now owns 2,014 shares of the biotechnology company’s stock worth $357,000 after acquiring an additional 56 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Ligand Pharmaceuticals by 12.3% in the 3rd quarter. GAMMA Investing LLC now owns 575 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 63 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Ligand Pharmaceuticals by 31.6% during the 3rd quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 65 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of Ligand Pharmaceuticals by 86.3% in the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock worth $26,000 after buying an additional 69 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in Ligand Pharmaceuticals by 3.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 2,688 shares of the biotechnology company’s stock valued at $527,000 after acquiring an additional 78 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.