Insider Selling: Ligand Pharmaceuticals (LGND) CEO Sells $2,232,527.85 in Stock

Ligand Pharmaceuticals (NASDAQ:LGND) CEO John L. Higgins sold 12,405 shares of the stock in a transaction on Tuesday, May 15th. The shares were sold at an average price of $179.97, for a total value of $2,232,527.85. Following the completion of the transaction, the chief executive officer now owns 119,824 shares of the company’s stock, valued at approximately $21,564,725.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of Ligand Pharmaceuticals opened at $191.14 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $3.95 billion, a P/E ratio of 74.37, a price-to-earnings-growth ratio of 1.71 and a beta of 0.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.41 and a quick ratio of 1.37. Ligand Pharmaceuticals has a 1 year low of $183.46 and a 1 year high of $188.97.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.26. The firm had revenue of $56.16 million during the quarter, compared to the consensus estimate of $43.02 million. Ligand Pharmaceuticals had a return on equity of 19.10% and a net margin of 31.40%. The business’s revenue for the quarter was up 91.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.57 EPS. research analysts forecast that Ligand Pharmaceuticals will post 4.33 earnings per share for the current year.

A number of equities analysts recently weighed in on LGND shares. Craig Hallum increased their price target on Ligand Pharmaceuticals from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Zacks Investment Research upgraded Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 20th. HC Wainwright increased their price target on Ligand Pharmaceuticals from $170.00 to $182.00 and gave the company a “buy” rating in a research report on Wednesday, March 7th. ValuEngine upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Finally, TheStreet lowered Ligand Pharmaceuticals from a “b” rating to a “c+” rating in a research report on Thursday, March 1st. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $161.00.

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its stake in Ligand Pharmaceuticals by 1.7% in the 4th quarter. BlackRock Inc. now owns 2,996,960 shares of the biotechnology company’s stock worth $410,374,000 after acquiring an additional 51,259 shares in the last quarter. Swiss National Bank lifted its stake in Ligand Pharmaceuticals by 4.3% in the 4th quarter. Swiss National Bank now owns 36,400 shares of the biotechnology company’s stock worth $4,984,000 after acquiring an additional 1,500 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in Ligand Pharmaceuticals by 74.0% in the 4th quarter. OppenheimerFunds Inc. now owns 252,961 shares of the biotechnology company’s stock worth $34,638,000 after acquiring an additional 107,580 shares in the last quarter. Alps Advisors Inc. lifted its stake in Ligand Pharmaceuticals by 13.5% in the 4th quarter. Alps Advisors Inc. now owns 23,386 shares of the biotechnology company’s stock worth $3,202,000 after acquiring an additional 2,783 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in Ligand Pharmaceuticals by 2.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 130,742 shares of the biotechnology company’s stock worth $17,903,000 after acquiring an additional 2,950 shares in the last quarter.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

Insider Buying and Selling by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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