Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Free Report) COO Matthew E. Korenberg sold 18,245 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $98.50, for a total transaction of $1,797,132.50. Following the completion of the transaction, the chief operating officer now owns 68,368 shares in the company, valued at $6,734,248. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Ligand Pharmaceuticals Stock Performance
LGND traded up $3.42 during midday trading on Tuesday, hitting $103.02. The stock had a trading volume of 203,847 shares, compared to its average volume of 149,136. The company has a market cap of $1.85 billion, a P/E ratio of 19.26 and a beta of 1.01. The business has a fifty day moving average of $91.20 and a 200 day moving average of $81.82. Ligand Pharmaceuticals Incorporated has a 1 year low of $49.24 and a 1 year high of $112.13.
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.34. The firm had revenue of $41.50 million during the quarter, compared to analyst estimates of $33.04 million. Ligand Pharmaceuticals had a return on equity of 8.52% and a net margin of 79.30%. The business’s quarterly revenue was up 57.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 earnings per share. On average, equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.54 earnings per share for the current year.
Institutional Trading of Ligand Pharmaceuticals
Analysts Set New Price Targets
Several research analysts recently weighed in on the stock. Craig Hallum upped their price objective on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Benchmark upped their target price on Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $130.00 target price on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 7th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $144.00 target price on shares of Ligand Pharmaceuticals in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.00.
Read Our Latest Research Report on Ligand Pharmaceuticals
About Ligand Pharmaceuticals
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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