Yesterday it was reported that a Director at Ligand Pharma (NASDAQ: LGND), Sunil Patel, exercised options to sell 42,287 LGND shares at $16.70 a share, for a total transaction value of $10.15M.
Following Sunil Patel’s last LGND Sell transaction on March 20, 2015, the stock climbed by 171.3%. This is Patel’s first transaction since reporting a Sell transaction on OMED back in October 2017
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Based on Ligand Pharma’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $90.04 million and quarterly net profit of $73.16 million. In comparison, last year the company earned revenue of $28 million and had a net profit of $6.06 million. LGND’s market cap is $5.06B and the company has a P/E ratio of 51.18. Currently, Ligand Pharma has an average volume of 571.5K.
Based on 6 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $255.17, reflecting a -2.8% downside.
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Ligand Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in developing or acquiring technologies that help pharmaceutical companies discover and develop medicines. Its products include evomela, IV voriconazole, duavee, viviant/conbriza, nexterone, and noxafil-IV. The company was founded by Ronald M. Evans in 1987 and is headquartered in San Diego, CA.
