The EVP,Finance & Strategy and CFO of Ligand Pharma is Exercising Options

By Carrie Williams

Yesterday it was reported that the EVP,Finance & Strategy and CFO of Ligand Pharma (NASDAQ: LGND), Matthew Korenberg, exercised options to sell 18,357 LGND shares at $85.79 a share, for a total transaction value of $4.71M.

Following Matthew Korenberg’s last LGND Sell transaction on November 17, 2017, the stock climbed by 116.4%. In addition to Matthew Korenberg, 3 other LGND executives reported Sell trades in the last month.

See today’s analyst top recommended stocks >>

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 $5.36B and the company has a P/E ratio of 52.97. Currently, Ligand Pharma has an average volume of 279.6K.

Based on 6 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $255.17, reflecting a -0.6% downside.

The insider sentiment on Ligand Pharma has been negative according to 61 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

Company insider trades are published daily on the SEC (Securities and Exchange Commission). DailyInsider’s proprietary algorithm analyzes these trades and selects the most attractive stocks based on influential insider trades each day. To subscribe to the DailyInsider visit this page.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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.