Andrew Reardon Sells 500 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) insider Andrew Reardon sold 500 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $114.54, for a total transaction of $57,270.00. Following the sale, the insider now directly owns 32,403 shares in the company, valued at $3,711,439.62. The trade was a 1.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Andrew Reardon also recently made the following trade(s):

• On Thursday, May 15th, Andrew Reardon sold 1,000 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $104.00, for a total transaction of $104,000.00.

Ligand Pharmaceuticals Price Performance

Ligand Pharmaceuticals stock traded down $1.95 during midday trading on Friday, reaching $112.50. 83,330 shares of the company traded hands, compared to its average volume of 116,608. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of 44.82 and a beta of 0.83. The business has a 50 day moving average of $105.48 and a two-hundred day moving average of $110.51. Ligand Pharmaceuticals Incorporated has a 12 month low of $77.53 and a 12 month high of $129.90.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biotechnology company reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.10. The company had revenue of $45.33 million for the quarter, compared to the consensus estimate of $37.84 million. Ligand Pharmaceuticals had a net margin of 29.68% and a return on equity of 4.95%. During the same quarter in the prior year, the firm earned $3.84 earnings per share. As a group, equities analysts forecast that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current year.

Institutional Trading of Ligand Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio purchased a new stake in Ligand Pharmaceuticals during the first quarter valued at approximately $789,000. Ellsworth Advisors LLC purchased a new stake in Ligand Pharmaceuticals during the first quarter valued at approximately $765,000. Jane Street Group LLC increased its holdings in Ligand Pharmaceuticals by 176.2% during the first quarter. Jane Street Group LLC now owns 36,922 shares of the biotechnology company's stock valued at $3,882,000 after buying an additional 23,553 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Ligand Pharmaceuticals by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,327 shares of the biotechnology company's stock valued at $5,817,000 after buying an additional 4,926 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its holdings in Ligand Pharmaceuticals by 0.9% during the first quarter. Uniplan Investment Counsel Inc. now owns 68,792 shares of the biotechnology company's stock valued at $7,233,000 after buying an additional 637 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

LGND has been the topic of several analyst reports. Wall Street Zen downgraded shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday, May 12th. Stifel Nicolaus initiated coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, April 10th. They issued a "buy" rating and a $143.00 target price on the stock. Finally, Oppenheimer upped their target price on shares of 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 seven have issued a buy rating to the company's stock. According to MarketBeat, Ligand Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $146.14.

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.