Ligand Pharmaceuticals (NASDAQ:LGND) Director Stephen Sabba Sells 2,034 Shares

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Director Stephen Sabba sold 2,034 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $201.50, for a total transaction of $409,851.00. Following the completion of the sale, the director owned 33,793 shares of the company’s stock, valued at approximately $6,809,289.50. This trade represents a 5.68% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Ligand Pharmaceuticals Stock Performance

Ligand Pharmaceuticals stock traded down $4.37 during midday trading on Friday, hitting $201.90. 77,453 shares of the company’s stock were exchanged, compared to its average volume of 209,383. The company has a debt-to-equity ratio of 0.44, a quick ratio of 21.98 and a current ratio of 22.23. The stock has a market cap of $4.03 billion, a price-to-earnings ratio of 34.63 and a beta of 1.17. Ligand Pharmaceuticals Incorporated has a 12-month low of $93.58 and a 12-month high of $212.49. The firm’s 50 day simple moving average is $194.11 and its 200 day simple moving average is $186.81.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, February 26th. The biotechnology company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.56. Ligand Pharmaceuticals had a net margin of 46.42% and a return on equity of 13.86%. The business had revenue of $59.67 million during the quarter, compared to the consensus estimate of $55.59 million. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. Equities research analysts predict that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current year.

Wall Street Analyst Weigh In

LGND has been the topic of a number of recent research reports. HC Wainwright boosted their target price on Ligand Pharmaceuticals from $231.00 to $239.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Citigroup initiated coverage on shares of Ligand Pharmaceuticals in a research note on Tuesday, December 9th. They issued a “buy” rating and a $270.00 price objective on the stock. Oppenheimer upped their price objective on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an “outperform” rating in a research report on Friday, February 27th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ligand Pharmaceuticals in a report on Monday, December 29th. Finally, Stifel Nicolaus boosted their price target on shares of Ligand Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $245.17.

Institutional Investors Weigh In On Ligand Pharmaceuticals

Institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL acquired a new position in Ligand Pharmaceuticals during the third quarter worth about $2,789,955,000. Acuitas Investments LLC boosted its stake in shares of Ligand Pharmaceuticals by 1,922.9% during the 3rd quarter. Acuitas Investments LLC now owns 402,494 shares of the biotechnology company’s stock worth $71,298,000 after acquiring an additional 382,597 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Ligand Pharmaceuticals by 115.9% in the 4th quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company’s stock worth $93,809,000 after acquiring an additional 266,304 shares during the period. Victory Capital Management Inc. increased its stake in Ligand Pharmaceuticals by 676.6% in the 3rd quarter. Victory Capital Management Inc. now owns 254,805 shares of the biotechnology company’s stock valued at $45,136,000 after purchasing an additional 221,996 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Ligand Pharmaceuticals by 59.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 541,845 shares of the biotechnology company’s stock worth $95,982,000 after purchasing an additional 202,103 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.