Ligand Pharmaceuticals (NASDAQ:LGND) Director John Kozarich Sells 467 Shares

Key Points

• Director John Kozarich of Ligand Pharmaceuticals sold 467 shares on October 1st for a total of $83,798, reducing his ownership by 1.03% to 45,055 shares.
• The company's quarterly earnings report revealed earnings per share of $1.60, exceeding estimates by $0.06, with a year-over-year revenue increase of 14.7%.
• Analysts have given Ligand Pharmaceuticals a consensus rating of "Moderate Buy", with target prices varying from $175 to $190, reflecting positive outlooks for the stock's future performance.

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report) Director John Kozarich sold 467 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $179.44, for a total value of $83,798.48. Following the sale, the director owned 45,055 shares in the company, valued at approximately $8,084,669.20. This trade represents a 1.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ligand Pharmaceuticals Stock Performance

NASDAQ:LGND traded up $0.87 on Friday, hitting $180.99. 145,677 shares of the stock were exchanged, compared to its average volume of 157,922. The company's 50-day moving average price is $157.93 and its 200 day moving average price is $126.78. Ligand Pharmaceuticals Incorporated has a 52 week low of $93.58 and a 52 week high of $183.81. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of -45.25 and a beta of 0.95.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The biotechnology company reported $1.60 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $47.63 million for the quarter, compared to the consensus estimate of $43.87 million. During the same quarter in the prior year, the business posted $1.40 EPS. The firm's quarterly revenue was up 14.7% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2025 guidance at 6.700-7.000 EPS. As a group, equities research analysts predict that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on LGND shares. Wall Street Zen raised Ligand Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Royal Bank Of Canada lifted their target price on Ligand Pharmaceuticals from $155.00 to $185.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Oppenheimer upped their price target on Ligand Pharmaceuticals from $167.00 to $190.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 3rd. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Ligand Pharmaceuticals in a research note on Saturday, September 27th. Finally, Benchmark boosted their price objective on shares of Ligand Pharmaceuticals from $160.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, September 2nd. Six investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Ligand Pharmaceuticals presently has an average rating of "Moderate Buy" and a consensus target price of $176.50.

Hedge Funds Weigh In On Ligand Pharmaceuticals

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Principal Financial Group Inc. raised its stake in Ligand Pharmaceuticals by 3.3% in the first quarter. Principal Financial Group Inc. now owns 102,874 shares of the biotechnology company's stock valued at $10,816,000 after buying an additional 3,284 shares during the period. GAMMA Investing LLC boosted its position in 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. American Century Companies Inc. boosted its position in Ligand Pharmaceuticals by 8.6% during the first quarter. American Century Companies Inc. now owns 40,456 shares of the biotechnology company's stock worth $4,254,000 after purchasing an additional 3,219 shares during the period. SG Americas Securities LLC increased its holdings in shares of Ligand Pharmaceuticals by 323.6% in the first quarter. SG Americas Securities LLC now owns 6,808 shares of the biotechnology company's stock valued at $716,000 after purchasing an additional 5,201 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its position in shares of Ligand Pharmaceuticals by 13.7% in the first quarter. Handelsbanken Fonder AB now owns 6,658 shares of the biotechnology company's stock valued at $700,000 after purchasing an additional 800 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.

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