Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Free Report) insider Andrew Reardon sold 2,000 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $99.60, for a total transaction of $199,200.00. Following the transaction, the insider now owns 22,534 shares of the company’s stock, valued at approximately $2,244,386.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Andrew Reardon also recently made the following trade(s):
- On Wednesday, August 28th, Andrew Reardon sold 1,500 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $106.39, for a total transaction of $159,585.00.
Ligand Pharmaceuticals Trading Down 0.8 %
Shares of NASDAQ:LGND traded down $0.76 on Wednesday, reaching $98.78. 71,082 shares of the company were exchanged, compared to its average volume of 141,897. Ligand Pharmaceuticals Incorporated has a 1-year low of $49.24 and a 1-year high of $112.13. The firm has a market cap of $1.80 billion, a price-to-earnings ratio of 19.25 and a beta of 1.01. The company has a 50-day moving average of $102.97 and a 200-day moving average of $87.98.
Institutional Investors Weigh In On Ligand Pharmaceuticals
A number of large investors have recently added to or reduced their stakes in LGND. Chicago Capital LLC grew its stake in Ligand Pharmaceuticals by 124.3% in the 2nd quarter. Chicago Capital LLC now owns 514,946 shares of the biotechnology company’s stock valued at $43,389,000 after acquiring an additional 285,350 shares during the last quarter. Ashford Capital Management Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the 1st quarter worth about $14,367,000. Stephens Investment Management Group LLC lifted its holdings in shares of Ligand Pharmaceuticals by 41.0% during the 4th quarter. Stephens Investment Management Group LLC now owns 659,434 shares of the biotechnology company’s stock worth $47,097,000 after acquiring an additional 191,870 shares during the period. F M Investments LLC acquired a new stake in shares of Ligand Pharmaceuticals in the second quarter worth approximately $11,350,000. Finally, Norges Bank acquired a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth approximately $7,655,000. 91.28% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on the stock. Royal Bank of Canada restated an “outperform” rating and set a $130.00 price objective on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. Benchmark upped their price objective on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. HC Wainwright restated a “buy” rating and set a $144.00 price objective on shares of Ligand Pharmaceuticals in a research report on Thursday, August 8th. Finally, Craig Hallum upped their price objective on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $131.00.
Check Out Our Latest Report on LGND
Ligand Pharmaceuticals Company Profile
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.
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