Ligand Pharmaceuticals (NASDAQ:LGND) Insider Andrew Reardon Sells 5,000 Shares of Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) insider Andrew Reardon sold 5,000 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $286.09, for a total value of $1,430,450.00. Following the transaction, the insider owned 36,514 shares in the company, valued at $10,446,290.26. This trade represents a 12.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Andrew Reardon also recently made the following trade(s):

• On Monday, August 3rd, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $288.99, for a total transaction of $1,444,950.00.
• On Wednesday, July 1st, Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $313.28, for a total transaction of $1,566,400.00.

Ligand Pharmaceuticals Trading Up 1.1%

NASDAQ LGND opened at $288.83 on Wednesday. Ligand Pharmaceuticals Incorporated has a one year low of $161.82 and a one year high of $326.63. The company has a 50-day simple moving average of $296.73 and a 200-day simple moving average of $250.31. The company has a debt-to-equity ratio of 1.16, a quick ratio of 30.96 and a current ratio of 31.18. The firm has a market capitalization of $5.76 billion, a PE ratio of 30.89, a price-to-earnings-growth ratio of 2.29 and a beta of 1.11.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.40. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The business had revenue of $63.69 million during the quarter, compared to the consensus estimate of $61.30 million. During the same quarter in the prior year, the firm earned $1.60 EPS. The company’s revenue for the quarter was up 33.8% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. On average, equities analysts forecast that Ligand Pharmaceuticals Incorporated will post 5.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Bank of America upped their price objective on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. Royal Bank Of Canada increased their target price on Ligand Pharmaceuticals from $340.00 to $345.00 and gave the stock an “outperform” rating in a research report on Friday, August 7th. HC Wainwright raised their target price on Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Finally, Citigroup assumed coverage on shares of Ligand Pharmaceuticals in a report on Tuesday, July 21st. They set a “buy” rating and a $387.00 price target for the company. Nine analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $335.75.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Private Wealth Group LLC increased its position in Ligand Pharmaceuticals by 86.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 69 shares during the period. Kestra Advisory Services LLC acquired a new position in Ligand Pharmaceuticals during the 4th quarter worth $31,000. JPL Wealth Management LLC acquired a new position in Ligand Pharmaceuticals during the 3rd quarter worth $52,000. Covestor Ltd grew its stake in shares of Ligand Pharmaceuticals by 17,050.0% in the fourth quarter. Covestor Ltd now owns 343 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 341 shares in the last quarter. Finally, IFP Advisors Inc increased its holdings in shares of Ligand Pharmaceuticals by 1,040.0% during the fourth quarter. IFP Advisors Inc now owns 342 shares of the biotechnology company’s stock valued at $65,000 after purchasing an additional 312 shares during the period. 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.