John Lamattina Sells 4,591 Shares of Ligand Pharmaceuticals (NASDAQ:LGND) Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Free Report) Director John Lamattina sold 4,591 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $250.88, for a total transaction of $1,151,790.08. Following the completion of the sale, the director owned 26,969 shares in the company, valued at $6,765,982.72. The trade was a 14.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ligand Pharmaceuticals Stock Up 0.4%

NASDAQ LGND opened at $255.54 on Friday. The company has a debt-to-equity ratio of 0.45, a current ratio of 21.28 and a quick ratio of 20.95. The company’s 50 day simple moving average is $225.60 and its 200 day simple moving average is $206.74. Ligand Pharmaceuticals Incorporated has a 12 month low of $110.00 and a 12 month high of $259.03. The company has a market capitalization of $5.12 billion, a P/E ratio of 34.67, a PEG ratio of 2.71 and a beta of 1.17.

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Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last released its earnings results on Thursday, May 7th. The biotechnology company reported $1.63 EPS for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.21). Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The business had revenue of $51.72 million during the quarter, compared to the consensus estimate of $59.10 million. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Equities research analysts expect that Ligand Pharmaceuticals Incorporated will post 4.47 earnings per share for the current fiscal year.

Institutional Trading of Ligand Pharmaceuticals

Several large investors have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL purchased a new position in Ligand Pharmaceuticals during the third quarter valued at approximately $2,789,955,000. Janus Henderson Group PLC grew its position in Ligand Pharmaceuticals by 1.5% during the first quarter. Janus Henderson Group PLC now owns 1,009,891 shares of the biotechnology company’s stock valued at $201,623,000 after purchasing an additional 14,491 shares in the last quarter. State Street Corp grew its position in Ligand Pharmaceuticals by 3.1% during the second quarter. State Street Corp now owns 749,754 shares of the biotechnology company’s stock valued at $85,232,000 after purchasing an additional 22,629 shares in the last quarter. Invesco Ltd. grew its position in Ligand Pharmaceuticals by 36.5% during the fourth quarter. Invesco Ltd. now owns 516,464 shares of the biotechnology company’s stock valued at $97,648,000 after purchasing an additional 138,169 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Ligand Pharmaceuticals by 115.9% during the fourth quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company’s stock valued at $93,809,000 after purchasing an additional 266,304 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently commented on LGND. Bank of America began coverage on shares of Ligand Pharmaceuticals in a report on Wednesday, March 11th. They issued a “buy” rating and a $244.00 target price on the stock. HC Wainwright boosted their target price on shares of Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Oppenheimer boosted their target price on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Royal Bank Of Canada boosted their target price on shares of Ligand Pharmaceuticals from $252.00 to $262.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Finally, Weiss Ratings downgraded shares of Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $257.71.

Read Our Latest 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.

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