Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Director Sunil Patel bought 1,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $95.98 per share, for a total transaction of $95,980.00. Following the transaction, the director now owns 26,359 shares of the company’s stock, valued at approximately $2,529,936.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Ligand Pharmaceuticals stock opened at $90.21 on Thursday. Ligand Pharmaceuticals Inc. has a 52 week low of $88.23 and a 52 week high of $278.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 13.23 and a quick ratio of 13.15. The company has a market capitalization of $1.76 billion, a PE ratio of 21.52, a P/E/G ratio of 1.91 and a beta of 1.30. The stock’s 50-day simple moving average is $110.03.
Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.30. Ligand Pharmaceuticals had a return on equity of 11.24% and a net margin of 389.58%. The business had revenue of $24.99 million during the quarter, compared to analysts’ expectations of $21.01 million. During the same quarter last year, the company posted $2.59 earnings per share. Ligand Pharmaceuticals’s quarterly revenue was down 72.2% on a year-over-year basis. On average, sell-side analysts anticipate that Ligand Pharmaceuticals Inc. will post 2.34 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of LGND. Manchester Capital Management LLC bought a new position in Ligand Pharmaceuticals during the first quarter worth about $26,000. FTB Advisors Inc. bought a new position in Ligand Pharmaceuticals during the second quarter worth about $26,000. FinTrust Capital Advisors LLC grew its holdings in Ligand Pharmaceuticals by 64.4% during the first quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock worth $43,000 after purchasing an additional 132 shares during the period. Valeo Financial Advisors LLC bought a new stake in shares of Ligand Pharmaceuticals during the second quarter worth approximately $46,000. Finally, Financial Gravity Wealth Inc. bought a new stake in shares of Ligand Pharmaceuticals during the first quarter worth approximately $51,000.
LGND has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $214.00 target price (down previously from $254.00) on shares of Ligand Pharmaceuticals in a research report on Friday, May 3rd. Barclays lowered their target price on Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday. BidaskClub downgraded Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research report on Friday, August 2nd. Argus set a $140.00 price target on Ligand Pharmaceuticals and gave the stock a “buy” rating in a report on Monday, June 10th. Finally, ValuEngine cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $183.71.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; Aziyo portfolio of commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
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