A Director at Ligand Pharma (NASDAQ: LGND) is Buying Shares

By Carrie Williams

Today, a Director at Ligand Pharma (LGNDResearch Report), Jason Aryeh, bought shares of LGND for $22.73K.

This is Aryeh’s first Buy trade following 14 Sell transactions. In addition to Jason Aryeh, 2 other LGND executives reported Buy trades in the last month.

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Based on Ligand Pharma’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $59.59 million and GAAP net loss of $42.48 million. In comparison, last year the company earned revenue of $50.46 million and had a GAAP net loss of $7.01 million. LGND’s market cap is $2.45B and the company has a P/E ratio of 21.09. Currently, Ligand Pharma has an average volume of 474.5K.

Based on 3 analyst ratings, the analyst consensus is Strong Buy with an average price target of $224.67, reflecting a 90.3% upside. Starting in September 2018, LGND received 21 Buy ratings in a row. Three different firms, including Craig-Hallum and Roth Capital, currently also have a Buy rating on the stock.

The insider sentiment on Ligand Pharma has been positive according to 47 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Ligand Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in developing or acquiring technologies that help pharmaceutical companies to 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.