Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director John W. Kozarich Sells 934 Shares

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director John W. Kozarich sold 934 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $125.00, for a total value of $116,750.00. Following the sale, the director owned 46,456 shares of the company's stock, valued at approximately $5,807,000. This trade represents a 1.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ligand Pharmaceuticals Stock Performance

Shares of LGND stock traded up $5.22 on Monday, hitting $126.92. 140,898 shares of the company's stock traded hands, compared to its average volume of 116,742. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of -17.83 and a beta of 0.84. The company's fifty day simple moving average is $109.40 and its 200 day simple moving average is $110.20. Ligand Pharmaceuticals Incorporated has a one year low of $90.29 and a one year high of $129.90.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported $1.33 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.10. Ligand Pharmaceuticals had a negative return on equity of 7.83% and a negative net margin of 73.07%. The firm had revenue of $45.33 million for the quarter, compared to analysts' expectations of $37.84 million. During the same period last year, the firm earned $3.84 earnings per share. As a group, sell-side analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on LGND shares. Stifel Nicolaus initiated coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, April 10th. They set a "buy" rating and a $143.00 price objective on the stock. Wall Street Zen downgraded Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Finally, Oppenheimer lifted their price target on Ligand Pharmaceuticals from $142.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. One investment analyst has rated the stock with a sell rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $147.17.

Institutional Trading of Ligand Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of LGND. Opal Wealth Advisors LLC purchased a new position in shares of Ligand Pharmaceuticals in the first quarter worth $32,000. GF Fund Management CO. LTD. purchased a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at about $43,000. Redwood Park Advisors LLC purchased a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at about $48,000. Sterling Capital Management LLC raised its stake in shares of Ligand Pharmaceuticals by 825.4% during the fourth quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock valued at $59,000 after acquiring an additional 487 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Ligand Pharmaceuticals by 68.5% during the first quarter. GAMMA Investing LLC now owns 593 shares of the biotechnology company's stock worth $62,000 after purchasing an additional 241 shares during the period. Institutional investors own 91.28% of the company's stock.

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.