Ligand Pharmaceuticals (NASDAQ:LGND) Director Jason Aryeh Sells 4,500 Shares of Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director Jason Aryeh sold 4,500 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $250.00, for a total transaction of $1,125,000.00. Following the completion of the sale, the director directly owned 102,580 shares in the company, valued at approximately $25,645,000. This trade represents a 4.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Jason Aryeh also recently made the following trade(s):

• On Wednesday, June 10th, Jason Aryeh sold 500 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $250.00, for a total value of $125,000.00.

Ligand Pharmaceuticals Stock Up 0.4%

Shares of NASDAQ:LGND traded up $0.97 during midday trading on Friday, reaching $255.54. The company’s stock had a trading volume of 247,086 shares, compared to its average volume of 221,643. The firm has a 50 day moving average of $224.48 and a 200-day moving average of $206.40. The firm has a market capitalization of $5.12 billion, a P/E ratio of 34.67, a PEG ratio of 2.64 and a beta of 1.17. The company has a quick ratio of 20.95, a current ratio of 21.28 and a debt-to-equity ratio of 0.45. Ligand Pharmaceuticals Incorporated has a 12-month low of $110.00 and a 12-month high of $259.03.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.21). Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The firm had revenue of $51.72 million during the quarter, compared to analysts’ expectations of $59.10 million. During the same period last year, the firm posted $1.33 earnings per share. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 4.47 earnings per share for the current year.

Wall Street Analysts Forecast Growth

LGND has been the topic of several research reports. Royal Bank Of Canada raised their target price on Ligand Pharmaceuticals from $252.00 to $262.00 and gave the stock an “outperform” rating in a research report on Friday, May 8th. Bank of America started 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. Oppenheimer upped their target price on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the company an “outperform” rating in a report on Friday, February 27th. Wall Street Zen cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Citigroup upped their target price on shares of Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.71.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Institutional investors have recently added to or reduced their stakes in the stock. CIBC Private Wealth Group LLC grew its holdings in Ligand Pharmaceuticals by 86.3% during 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 stake in shares of Ligand Pharmaceuticals in the fourth quarter worth about $31,000. USA Financial Formulas bought a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth about $43,000. Smartleaf Asset Management LLC lifted its position in shares of Ligand Pharmaceuticals by 31.6% in the third quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock worth $47,000 after buying an additional 65 shares in the last quarter. Finally, JPL Wealth Management LLC purchased a new stake in shares of Ligand Pharmaceuticals in the third quarter worth about $52,000. 91.28% of the stock is owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Company Profile

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.