Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Director Purchases $95,980.00 in Stock

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) Director Sunil Patel bought 1,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $95.98 per share, for a total transaction of $95,980.00. Following the purchase, the director now directly owns 26,359 shares in the company, valued at $2,529,936.82. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of NASDAQ:LGND traded down $5.55 during mid-day trading on Monday, reaching $89.51. The company had a trading volume of 635,286 shares, compared to its average volume of 520,828. The company has a current ratio of 13.23, a quick ratio of 8.33 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 2.03 and a beta of 1.31. The company has a 50-day simple moving average of $111.75. Ligand Pharmaceuticals Inc. has a one year low of $88.75 and a one year high of $278.62.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Tuesday, July 30th. The biotechnology company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.30. The company had revenue of $24.99 million for the quarter, compared to analysts’ expectations of $21.01 million. Ligand Pharmaceuticals had a net margin of 389.58% and a return on equity of 11.24%. Ligand Pharmaceuticals’s revenue was down 72.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.59 EPS. On average, equities analysts expect that Ligand Pharmaceuticals Inc. will post 2.34 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of the stock. First Mercantile Trust Co. raised its holdings in Ligand Pharmaceuticals by 12.6% during the 1st quarter. First Mercantile Trust Co. now owns 805 shares of the biotechnology company’s stock valued at $101,000 after acquiring an additional 90 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in Ligand Pharmaceuticals by 1.1% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 8,503 shares of the biotechnology company’s stock valued at $1,069,000 after acquiring an additional 92 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in Ligand Pharmaceuticals by 13.9% during the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 812 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 99 shares during the period. FinTrust Capital Advisors LLC raised its holdings in Ligand Pharmaceuticals by 64.4% during the 1st quarter. FinTrust Capital Advisors LLC now owns 337 shares of the biotechnology company’s stock valued at $43,000 after acquiring an additional 132 shares during the period. Finally, Manchester Capital Management LLC bought a new stake in Ligand Pharmaceuticals during the 1st quarter valued at $26,000.

A number of brokerages have recently weighed in on LGND. BidaskClub downgraded Ligand Pharmaceuticals from a “sell” rating to a “strong sell” rating in a research note on Friday. Argus set a $140.00 target price on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 10th. Barclays lowered their price target on shares of Ligand Pharmaceuticals from $131.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday. ValuEngine cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, July 23rd. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $214.00 price target (down previously from $254.00) on shares of Ligand Pharmaceuticals in a report on Friday, May 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Ligand Pharmaceuticals currently has an average rating of “Hold” and a consensus target price of $193.25.

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; Aziyo portfolio of 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.

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