Investors Purchase Large Volume of Ligand Pharmaceuticals Call Options (NASDAQ:LGND)

Ligand Pharmaceuticals Inc. (NASDAQ:LGND) was the target of unusually large options trading activity on Tuesday. Traders acquired 631 call options on the stock. This is an increase of approximately 1,069% compared to the typical daily volume of 54 call options.

Shares of LGND traded up $2.48 during midday trading on Thursday, reaching $114.88. 288,230 shares of the stock were exchanged, compared to its average volume of 519,011. The stock has a market capitalization of $2.23 billion, a P/E ratio of 18.19, a P/E/G ratio of 2.50 and a beta of 1.38. The firm has a 50 day moving average of $113.26. Ligand Pharmaceuticals has a twelve month low of $98.56 and a twelve month high of $278.62. The company has a current ratio of 8.39, a quick ratio of 8.33 and a debt-to-equity ratio of 0.57.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.28. The business had revenue of $43.48 million during the quarter, compared to the consensus estimate of $38.28 million. Ligand Pharmaceuticals had a return on equity of 19.21% and a net margin of 320.12%. Ligand Pharmaceuticals’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.55 earnings per share. Research analysts expect that Ligand Pharmaceuticals will post 2.34 EPS for the current year.

A number of research firms recently issued reports on LGND. Argus set a $140.00 target price on Ligand Pharmaceuticals and gave the stock a “buy” rating in a research note on Monday, June 10th. Zacks Investment Research raised shares of Jack Henry & Associates from a “sell” rating to a “hold” rating in a research note on Wednesday, March 27th. Barclays reaffirmed a “hold” rating on shares of Bank of Montreal in a research note on Tuesday, June 11th. HC Wainwright reaffirmed a “buy” rating on shares of Ballard Power Systems in a research note on Friday, May 3rd. Finally, ValuEngine cut shares of Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday, July 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $195.88.

In related news, CEO John L. Higgins acquired 2,500 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were purchased at an average price of $113.50 per share, with a total value of $283,750.00. Following the acquisition, the chief executive officer now directly owns 28,042 shares in the company, valued at $3,182,767. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jason Aryeh bought 250 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were acquired at an average price of $107.01 per share, for a total transaction of $26,752.50. Following the completion of the transaction, the director now owns 61,703 shares in the company, valued at approximately $6,602,838.03. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 4,500 shares of company stock worth $503,895. 8.40% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc lifted its stake in shares of Ligand Pharmaceuticals by 3.3% in the third quarter. Vanguard Group Inc now owns 2,090,137 shares of the biotechnology company’s stock worth $573,721,000 after acquiring an additional 66,789 shares during the period. Janus Henderson Group PLC lifted its stake in Ligand Pharmaceuticals by 40.1% in the first quarter. Janus Henderson Group PLC now owns 1,385,066 shares of the biotechnology company’s stock valued at $174,117,000 after buying an additional 396,166 shares during the period. Victory Capital Management Inc. lifted its stake in Ligand Pharmaceuticals by 39.6% in the first quarter. Victory Capital Management Inc. now owns 655,690 shares of the biotechnology company’s stock valued at $82,428,000 after buying an additional 186,090 shares during the period. Conestoga Capital Advisors LLC lifted its stake in Ligand Pharmaceuticals by 27.6% in the first quarter. Conestoga Capital Advisors LLC now owns 621,006 shares of the biotechnology company’s stock valued at $78,067,000 after buying an additional 134,173 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Ligand Pharmaceuticals by 37.7% during the first quarter. The Manufacturers Life Insurance Company now owns 557,512 shares of the biotechnology company’s stock worth $70,085,000 after purchasing an additional 152,649 shares during the period.

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; Aziyo portfolio of 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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