<div id="readability-page-1"><p>Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Get Free Report)'s share price gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $232.55, but opened at $205.00. Ligand Pharmaceuticals shares last traded at $211.97, with a volume of 88,559 shares changing hands.</p><div><p><span></span><span>Get <strong>Ligand Pharmaceuticals</strong> alerts:</span></p></div><p>The biotechnology company reported $1.63 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.21). The company had revenue of $51.72 million during the quarter, compared to analyst estimates of $59.10 million. Ligand Pharmaceuticals had a return on equity of 13.86% and a net margin of 46.42%.The firm's revenue for the quarter was up 14.1% on a year-over-year basis. During the same quarter last year, the business earned $1.33 earnings per share. </p><h2>Analyst Ratings Changes</h2><p>A number of analysts recently commented on the stock. HC Wainwright lifted their target price on shares of Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a &#34;buy&#34; rating in a research note on Thursday, April 30th. Weiss Ratings raised shares of Ligand Pharmaceuticals from a &#34;hold (c)&#34; rating to a &#34;hold (c+)&#34; rating in a research report on Friday, May 1st. Citigroup raised their price target on shares of Ligand Pharmaceuticals from $276.00 to $282.00 and gave the stock a &#34;buy&#34; rating in a research report on Wednesday, April 15th. Oppenheimer raised their price target on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an &#34;outperform&#34; rating in a research report on Friday, February 27th. Finally, Bank of America started coverage on shares of Ligand Pharmaceuticals in a research report on Wednesday, March 11th. They set a &#34;buy&#34; rating and a $244.00 price target for the company. Seven analysts have rated the stock with a Buy rating and one  has given a Hold rating to the company's stock. According to MarketBeat.com, the stock  has a consensus rating of &#34;Moderate Buy&#34; and an average target price of $256.29.</p><p><b>Check Out Our Latest Stock Report on LGND</b></p><h2>Insider Activity</h2><p>In related news, Director John W. Kozarich sold 467 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $202.23, for a total value of $94,441.41. Following the sale, the director owned 42,253 shares of the company's stock, valued at approximately $8,544,824.19. This trade represents a 1.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities &amp; Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Andrew Reardon sold 5,000 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $206.35, for a total transaction of $1,031,750.00. Following the completion of the sale, the insider directly owned 36,869 shares in the company, valued at $7,607,918.15. This represents a 11.94% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 35,448 shares of company stock valued at $7,450,977 in the last quarter. Company insiders own  7.00% of the company's stock. </p><h2>Institutional Investors Weigh In On Ligand Pharmaceuticals</h2><p>A number of institutional investors have recently added to or reduced their stakes in LGND. Envestnet Asset Management Inc. boosted its stake in  Ligand Pharmaceuticals by 16.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 31,915 shares of the biotechnology company's stock worth $5,653,000 after purchasing an additional 4,538 shares during the last quarter.  Fisher Asset Management LLC boosted its stake in  Ligand Pharmaceuticals by 2.7% during the 3rd quarter. Fisher Asset Management LLC now owns 108,926 shares of the biotechnology company's stock worth $19,295,000 after purchasing an additional 2,860 shares during the last quarter.  Massachusetts Financial Services Co. MA boosted its stake in  Ligand Pharmaceuticals by 59.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 541,845 shares of the biotechnology company's stock worth $95,982,000 after purchasing an additional 202,103 shares during the last quarter.  Lisanti Capital Growth LLC boosted its stake in  Ligand Pharmaceuticals by 178.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 29,677 shares of the biotechnology company's stock worth $5,257,000 after purchasing an additional 19,002 shares during the last quarter.  Finally, Cibc World Market Inc. boosted its stake in  Ligand Pharmaceuticals by 11.7% during the 3rd quarter. Cibc World Market Inc. now owns 59,131 shares of the biotechnology company's stock worth $10,474,000 after purchasing an additional 6,209 shares during the last quarter. Institutional investors and hedge funds own  91.28% of the company's stock. </p><h2>Ligand Pharmaceuticals Stock Performance</h2><p>The company has a debt-to-equity ratio of 0.44, a quick ratio of 21.98 and a current ratio of 22.23. The firm's 50 day simple moving average is $211.74 and its 200-day simple moving average is $200.35. The company has a market cap of $4.29 billion, a price-to-earnings ratio of 36.94, a PEG ratio of 1.68 and a beta of 1.20. </p><h2>About Ligand Pharmaceuticals</h2> (Get Free Report)<p>Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.  </p><p>The company's product offerings center around several core platforms.</p><h2>Featured Articles</h2><ul><li>Five stocks we like better than Ligand Pharmaceuticals</li></ul><p><em>This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.</em></p><h2>Should You Invest $1,000 in Ligand Pharmaceuticals Right Now?</h2><p>Before you consider Ligand Pharmaceuticals, you'll want to hear this.</p><p>MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ligand Pharmaceuticals wasn't on the list.</p><p>While Ligand Pharmaceuticals currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.</p><p>View The Five Stocks Here</p>                  </div>

LGND

<p>Ligand Pharmaceuticals (NASDAQ:LGND) shares gapped down to $205.00 after reporting disappointing earnings, missing EPS estimates of $1.84 with $1.63. Revenue was $51.72 million, below the expected $59.10 million, despite a 14.1% year-over-year increase. Analysts have mixed ratings, with a consensus of "Moderate Buy" and an average target price of $256.29. Insider trading activity included sales by directors, and institutional investors hold 91.28% of the stock. The stock last traded at $211.97 with a volume of 88,559 shares.</p>

Ligand Pharmaceuticals (NASDAQ:LGND) Shares Gap Down After Earnings Miss