Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Insider Andrew Reardon Sells 2,000 Shares

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) insider Andrew Reardon sold 2,000 shares of the business’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the transaction, the insider now directly owns 22,534 shares in the company, valued at approximately $2,244,386.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, August 28th, Andrew Reardon sold 1,500 shares of Ligand Pharmaceuticals stock. The stock was sold at an average price of $106.39, for a total transaction of $159,585.00.

Ligand Pharmaceuticals Stock Performance

Shares of LGND stock opened at $97.37 on Friday. Ligand Pharmaceuticals Incorporated has a one year low of $49.24 and a one year high of $112.13. The firm’s 50 day moving average price is $102.88 and its 200-day moving average price is $88.31. The firm has a market cap of $1.75 billion, a P/E ratio of 18.83 and a beta of 1.01.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 EPS for the quarter, topping analysts’ consensus estimates of $1.06 by $0.34. Ligand Pharmaceuticals had a return on equity of 7.91% and a net margin of 29.69%. The company had revenue of $41.50 million for the quarter, compared to analysts’ expectations of $33.04 million. During the same period in the prior year, the firm earned $1.10 earnings per share. The firm’s revenue was up 57.2% compared to the same quarter last year. As a group, research analysts predict that Ligand Pharmaceuticals Incorporated will post 3.54 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LGND has been the subject of a number of recent analyst reports. Benchmark raised their price target on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 target price on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating and issued a $144.00 price target on shares of Ligand Pharmaceuticals in a research note on Thursday, August 8th. Finally, Craig Hallum increased their price target on Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.00.

Hedge Funds Weigh In On Ligand Pharmaceuticals

Several institutional investors have recently bought and sold shares of LGND. Vanguard Group Inc. grew its holdings in shares of Ligand Pharmaceuticals by 0.4% in the first quarter. Vanguard Group Inc. now owns 1,884,112 shares of the biotechnology company’s stock valued at $137,729,000 after purchasing an additional 7,598 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Ligand Pharmaceuticals by 6.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company’s stock valued at $59,707,000 after buying an additional 44,543 shares during the period. Stephens Investment Management Group LLC boosted its position in Ligand Pharmaceuticals by 41.0% in the 4th quarter. Stephens Investment Management Group LLC now owns 659,434 shares of the biotechnology company’s stock valued at $47,097,000 after buying an additional 191,870 shares during the period. Chicago Capital LLC grew its stake in shares of Ligand Pharmaceuticals by 124.3% in the second quarter. Chicago Capital LLC now owns 514,946 shares of the biotechnology company’s stock worth $43,389,000 after acquiring an additional 285,350 shares in the last quarter. Finally, Rice Hall James & Associates LLC increased its position in shares of Ligand Pharmaceuticals by 4.5% during the second quarter. Rice Hall James & Associates LLC now owns 292,475 shares of the biotechnology company’s stock worth $24,644,000 after acquiring an additional 12,691 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

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.