Ligand Pharmaceuticals (NASDAQ:LGND) Announces Quarterly Earnings Results

Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) released its earnings results on Thursday. The biotechnology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.21), FiscalAI reports. The firm had revenue of $51.72 million during the quarter, compared to analyst estimates of $59.10 million. Ligand Pharmaceuticals had a net margin of 55.95% and a return on equity of 16.19%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same period last year, the business posted $1.33 earnings per share.

Ligand Pharmaceuticals Stock Performance

LGND traded down $5.77 on Friday, reaching $213.21. The company had a trading volume of 127,863 shares, compared to its average volume of 224,971. The stock has a market cap of $4.27 billion, a P/E ratio of 28.93, a P/E/G ratio of 1.79 and a beta of 1.20. The company has a debt-to-equity ratio of 0.45, a quick ratio of 20.95 and a current ratio of 21.28. Ligand Pharmaceuticals has a fifty-two week low of $98.89 and a fifty-two week high of $247.38. The company’s fifty day moving average is $214.39 and its 200 day moving average is $201.77.

Get Ligand Pharmaceuticals alerts:

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, Director John W. Kozarich sold 1,575 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $223.50, for a total value of $352,012.50. Following the completion of the transaction, the director owned 41,786 shares of the company’s stock, valued at approximately $9,339,171. This represents a 3.63% decrease in their ownership of the stock. The transaction 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. Also, insider Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $206.35, for a total value of $1,031,750.00. Following the sale, the insider directly owned 36,869 shares in the company, valued at $7,607,918.15. The trade was a 11.94% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 37,949 shares of company stock valued at $8,014,056. 7.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Large investors have recently modified their holdings of the company. 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 buying an additional 69 shares in the last quarter. Kestra Advisory Services LLC bought a new position in Ligand Pharmaceuticals in the 4th quarter valued at about $31,000. JPL Wealth Management LLC bought a new stake in Ligand Pharmaceuticals during the 3rd quarter worth approximately $52,000. Persistent Asset Partners Ltd purchased a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth approximately $150,000. Finally, State of Wyoming bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $169,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on LGND. Bank of America assumed coverage on shares of Ligand Pharmaceuticals in a report on Wednesday, March 11th. They set a “buy” rating and a $244.00 target price for the company. Royal Bank Of Canada lifted their price objective on shares of Ligand Pharmaceuticals from $252.00 to $262.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Wall Street Zen cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. HC Wainwright lifted their target price on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Finally, Oppenheimer raised their price target on Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Ligand Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $257.71.

View Our Latest Stock Analysis on Ligand Pharmaceuticals

Ligand Pharmaceuticals Company Profile

(Get Free Report)

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.

Featured Articles

• Five stocks we like better than Ligand Pharmaceuticals
• Viking Sails to All-Time Highs—Fundamentals Signal More to Come
• Datavalut Gains Traction: 5 Reasons to Sell Now
• TMC Stock: Why This Pre-Revenue Miner Is Worth Watching
• The Power Grid Is Dying—Is It Time to Buy Its Replacement?

Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.