The President & COO of Ligand Pharma is Exercising Options

By Carrie Williams

Yesterday it was reported that the President & COO of Ligand Pharma (LGNDResearch Report), Matthew W. Foehr, exercised options to buy 1,004 LGND shares at $21.92 a share, for a total transaction value of $22.01K.

In addition to Matthew W. Foehr, 3 other LGND executives reported Buy trades in the last month.

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LGND’s market cap is $2.17B and the company has a P/E ratio of 3.14. Currently, Ligand Pharma has an average volume of 223.7K.

Based on 5 analyst ratings, the analyst consensus is Strong Buy with an average price target of $166.60, reflecting a 51.0% upside. Three different firms, including H.C. Wainwright and Stephens, currently also have a Buy rating on the stock.

In the last 30 days, insiders have sold $282.3K worth of LGND shares and purchased $414K worth of LGND shares. The insider sentiment on Ligand Pharma has been positive according to 59 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.