Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) CEO Sells $180,000.00 in Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) CEO John L. Higgins sold 2,000 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $90.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief executive officer now directly owns 367,180 shares of the company’s stock, valued at approximately $33,046,200. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Ligand Pharmaceuticals Stock Performance

LGND opened at $87.85 on Friday. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $72.57 and a fifty-two week high of $169.98. The firm’s fifty day moving average is $96.40 and its 200 day moving average is $95.71. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of -190.98, a price-to-earnings-growth ratio of 4.55 and a beta of 1.10.

Wall Street Analyst Weigh In

A number of research firms have commented on LGND. BMO Capital Markets began coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, June 16th. They issued an “outperform” rating for the company. StockNews.com raised shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Barclays cut their price objective on shares of Ligand Pharmaceuticals from $165.00 to $157.00 and set an “overweight” rating for the company in a research report on Tuesday, July 5th. Finally, Roth Capital cut their price objective on shares of Ligand Pharmaceuticals from $185.00 to $175.00 and set a “buy” rating for the company in a research report on Friday, September 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Ligand Pharmaceuticals by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 1,727,638 shares of the biotechnology company’s stock worth $194,342,000 after purchasing an additional 10,903 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Ligand Pharmaceuticals by 1.8% in the 4th quarter. William Blair Investment Management LLC now owns 1,400,341 shares of the biotechnology company’s stock worth $216,297,000 after purchasing an additional 24,400 shares in the last quarter. Macquarie Group Ltd. lifted its stake in Ligand Pharmaceuticals by 3.3% in the 2nd quarter. Macquarie Group Ltd. now owns 783,924 shares of the biotechnology company’s stock worth $69,941,000 after purchasing an additional 25,183 shares in the last quarter. Chicago Capital LLC lifted its stake in Ligand Pharmaceuticals by 12.7% in the 1st quarter. Chicago Capital LLC now owns 491,717 shares of the biotechnology company’s stock worth $55,313,000 after purchasing an additional 55,261 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in Ligand Pharmaceuticals by 8.6% in the 2nd quarter. Stephens Investment Management Group LLC now owns 453,574 shares of the biotechnology company’s stock worth $40,468,000 after purchasing an additional 35,904 shares in the last quarter. Hedge funds and other institutional investors own 87.87% of the company’s stock.

Ligand Pharmaceuticals Company Profile

(Get Rating)

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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