Octavio Espinoza Sells 3,057 Shares of Ligand Pharmaceuticals (NASDAQ:LGND) Stock

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) CFO Octavio Espinoza sold 3,057 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $225.00, for a total value of $687,825.00. Following the transaction, the chief financial officer directly owned 21,010 shares in the company, valued at approximately $4,727,250. The trade was a 12.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Octavio Espinoza also recently made the following trade(s):

• On Wednesday, March 4th, Octavio Espinoza sold 13,423 shares of Ligand Pharmaceuticals stock. The shares were sold at an average price of $205.83, for a total value of $2,762,856.09.

Ligand Pharmaceuticals Stock Down 4.1%

Shares of Ligand Pharmaceuticals stock traded down $8.57 during trading on Friday, reaching $202.91. The company’s stock had a trading volume of 273,426 shares, compared to its average volume of 196,228. Ligand Pharmaceuticals Incorporated has a 1-year low of $93.58 and a 1-year high of $227.92. The company has a 50-day simple moving average of $196.28 and a two-hundred day simple moving average of $189.04. The company has a quick ratio of 21.98, a current ratio of 22.23 and a debt-to-equity ratio of 0.44. The company has a market cap of $4.05 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 2.61 and a beta of 1.17.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, February 26th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.56. Ligand Pharmaceuticals had a return on equity of 13.86% and a net margin of 46.42%.The company had revenue of $59.67 million for the quarter, compared to analyst estimates of $55.59 million. During the same period in the prior year, the company posted $1.27 EPS. The firm’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. As a group, equities analysts forecast that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on LGND shares. HC Wainwright increased their price objective on shares of Ligand Pharmaceuticals from $231.00 to $239.00 and gave the company a “buy” rating in a research report on Tuesday, February 24th. Citigroup began coverage on shares of Ligand Pharmaceuticals in a research note on Tuesday, December 9th. They set a “buy” rating and a $270.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ligand Pharmaceuticals in a report on Monday, December 29th. Wall Street Zen downgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Bank of America started coverage on shares of Ligand Pharmaceuticals in a report on Wednesday. They set a “buy” rating and a $244.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus target price of $245.00.

Institutional Investors Weigh In On Ligand Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Ashton Thomas Private Wealth LLC raised its position in Ligand Pharmaceuticals by 2.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,014 shares of the biotechnology company’s stock worth $357,000 after buying an additional 56 shares during the last quarter. Maryland State Retirement & Pension System boosted its holdings in shares of Ligand Pharmaceuticals by 2.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock valued at $543,000 after acquiring an additional 61 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Ligand Pharmaceuticals by 12.3% in the third quarter. GAMMA Investing LLC now owns 575 shares of the biotechnology company’s stock worth $102,000 after acquiring an additional 63 shares during the period. Smartleaf Asset Management LLC increased its stake in shares of Ligand Pharmaceuticals by 31.6% in the third quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 65 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Ligand Pharmaceuticals by 86.3% during the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

About Ligand Pharmaceuticals

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.