Traders Purchase Large Volume of Ligand Pharmaceuticals Call Options (LGND)

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) was the target of some unusual options trading activity on Wednesday. Stock traders bought 6,236 call options on the stock. This is an increase of 3,384% compared to the average daily volume of 179 call options.

In other news, Director Todd C. Davis sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $253.99, for a total transaction of $634,975.00. Following the sale, the director now owns 42,556 shares in the company, valued at $10,808,798.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Todd C. Davis sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $239.78, for a total transaction of $2,158,020.00. Following the sale, the director now owns 44,806 shares in the company, valued at approximately $10,743,582.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 119,922 shares of company stock valued at $30,297,452. Company insiders own 7.80% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in LGND. Summit Trail Advisors LLC increased its stake in Ligand Pharmaceuticals by 14,496.1% in the 1st quarter. Summit Trail Advisors LLC now owns 1,948,730 shares of the biotechnology company’s stock valued at $1,949,000 after buying an additional 1,935,379 shares during the period. BlackRock Inc. increased its stake in Ligand Pharmaceuticals by 8.3% in the 2nd quarter. BlackRock Inc. now owns 3,264,974 shares of the biotechnology company’s stock valued at $676,405,000 after buying an additional 251,145 shares during the period. Renaissance Technologies LLC increased its stake in Ligand Pharmaceuticals by 43.7% in the 2nd quarter. Renaissance Technologies LLC now owns 523,494 shares of the biotechnology company’s stock valued at $108,452,000 after buying an additional 159,100 shares during the period. Janus Henderson Group PLC increased its stake in Ligand Pharmaceuticals by 6.3% in the 2nd quarter. Janus Henderson Group PLC now owns 927,101 shares of the biotechnology company’s stock valued at $192,068,000 after buying an additional 54,990 shares during the period. Finally, UBS Group AG increased its stake in Ligand Pharmaceuticals by 465.7% in the 1st quarter. UBS Group AG now owns 62,154 shares of the biotechnology company’s stock valued at $10,265,000 after buying an additional 51,166 shares during the period.

LGND stock opened at $197.06 on Friday. Ligand Pharmaceuticals has a 52-week low of $126.50 and a 52-week high of $278.62. The company has a current ratio of 2.34, a quick ratio of 2.32 and a debt-to-equity ratio of 0.96. The company has a market cap of $5.79 billion, a PE ratio of 76.68, a PEG ratio of 2.39 and a beta of 1.06.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Monday, August 6th. The biotechnology company reported $2.59 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.34 by $0.25. The firm had revenue of $90.00 million for the quarter, compared to analyst estimates of $82.20 million. Ligand Pharmaceuticals had a net margin of 52.10% and a return on equity of 25.95%. The company’s revenue for the quarter was up 221.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.67 EPS. Equities research analysts anticipate that Ligand Pharmaceuticals will post 5.74 EPS for the current fiscal year.

A number of equities research analysts have recently issued reports on LGND shares. Argus started coverage on shares of Ligand Pharmaceuticals in a report on Thursday, June 21st. They set a “buy” rating on the stock. Craig Hallum restated a “buy” rating and set a $230.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, June 27th. HC Wainwright restated a “buy” rating on shares of Ligand Pharmaceuticals in a report on Thursday, June 28th. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 28th. Finally, Stephens restated a “buy” rating and set a $248.00 price target on shares of Ligand Pharmaceuticals in a report on Wednesday, August 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $223.88.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.

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