Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Insider Andrew Reardon Sells 2,000 Shares

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) 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.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.34. The business had revenue of $41.50 million for the quarter, compared to analysts’ expectations of $33.04 million. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. The business’s revenue for the quarter was up 57.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.10 EPS. As a group, analysts forecast that Ligand Pharmaceuticals Incorporated will post 3.54 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 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.

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.