Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director Sells $61,587.96 in Stock

Key Points

• John W. Kozarich, a director of Ligand Pharmaceuticals, sold 467 shares at an average price of $131.88, reducing his stake in the company by 1.01%.
• Ligand Pharmaceuticals' stock is currently trading at $135.15, down 0.2%, with a 12-month high of $143.13 and a 12-month low of $92.04.
• Analyst ratings for Ligand Pharmaceuticals show one sell and six buy ratings, with a consensus target price of $150.00.

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director John W. Kozarich sold 467 shares of Ligand Pharmaceuticals stock in a transaction on Friday, August 1st. The shares were sold at an average price of $131.88, for a total transaction of $61,587.96. Following the sale, the director directly owned 45,989 shares of the company's stock, valued at $6,065,029.32. This trade represents a 1.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Ligand Pharmaceuticals Stock Up 2.6%

Shares of NASDAQ:LGND traded up $3.74 on Friday, reaching $150.06. The company had a trading volume of 195,533 shares, compared to its average volume of 207,614. The stock has a market capitalization of $2.89 billion, a P/E ratio of -37.52 and a beta of 0.85. The stock has a 50-day moving average price of $122.22 and a 200 day moving average price of $113.79. Ligand Pharmaceuticals Incorporated has a twelve month low of $93.58 and a twelve month high of $151.55.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted its earnings results on Thursday, August 7th. The biotechnology company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.06. Ligand Pharmaceuticals had a negative return on equity of 9.21% and a negative net margin of 40.44%. The firm had revenue of $47.63 million during the quarter, compared to analyst estimates of $43.87 million. During the same period in the previous year, the company earned $1.40 EPS. The company's revenue for the quarter was up 14.7% on a year-over-year basis. On average, sell-side analysts predict that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Royal Bank Of Canada boosted their target price on Ligand Pharmaceuticals from $155.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday. Oppenheimer lifted their price target on Ligand Pharmaceuticals from $145.00 to $162.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Finally, Wall Street Zen upgraded Ligand Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Ligand Pharmaceuticals currently has an average rating of "Buy" and an average price target of $157.00.

Institutional Trading of Ligand Pharmaceuticals

Large investors have recently modified their holdings of the company. Maseco LLP acquired a new position in Ligand Pharmaceuticals during the 2nd quarter worth $31,000. Opal Wealth Advisors LLC bought a new position in shares of Ligand Pharmaceuticals in the first quarter worth about $32,000. GF Fund Management CO. LTD. bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth about $43,000. Redwood Park Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals during the 4th quarter worth about $48,000. Finally, Sterling Capital Management LLC boosted its stake in Ligand Pharmaceuticals by 825.4% during the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 487 shares during the period. 91.28% of the stock is owned by institutional investors.

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.