Ligand Pharmaceuticals (NASDAQ: LGND) has recently experienced changes in stock ratings and price targets, alongside notable insider trading activity. The biopharmaceutical company, which develops and licenses various therapeutic assets, has seen its directors actively participating in stock sales.
On September 23, 2023, Director Jason Aryeh sold 10,000 shares of Ligand’s stock at an average price of $170.81, resulting in a total transaction value of $1,708,100. Following this sale, Aryeh now holds 69,289 shares valued at approximately $11,835,254, reflecting a 12.61% decrease in his ownership stake in the company. This transaction was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).
Additionally, on November 3, 2023, Director John W. Kozarich sold 467 shares at an average price of $191.05, amounting to $89,220.35. Following this transaction, Kozarich now owns 44,588 shares valued at approximately $8,518,537, marking a 1.04% decrease in his ownership. The details of this sale are also available in the SEC filing.
In the past ninety days, insiders have sold a cumulative total of 11,401 shares worth $1,956,894. Currently, insiders collectively own approximately 7.00% of Ligand’s stock.
Overview of Ligand Pharmaceuticals’ Commercial Programs
Ligand Pharmaceuticals focuses on developing and licensing a range of biopharmaceutical assets globally. Its commercial programs include notable products such as Kyprolis and Evomela, both utilized in the treatment of multiple myeloma. The company also offers Rylaze, a recombinant erwinia asparaginase targeting acute lymphoblastic leukemia and lymphoblastic lymphoma in both adult and pediatric patients.
Other key products in Ligand’s pipeline include Filspari, a dual endothelin and angiotensin II receptor antagonist aimed at treating rare kidney diseases, and a Teriparatide injection for osteoporosis management. Additionally, Ligand has developed Vaxneuvance, a vaccine for the prevention of invasive disease caused by different serotypes of streptococcus pneumoniae, along with Pneumosil, a pneumococcal conjugate vaccine designed to combat pneumococcal pneumonia in children.
As the biopharmaceutical landscape continues to evolve, Ligand Pharmaceuticals remains a significant player with its diverse range of therapeutic offerings. Investors and stakeholders are likely to monitor the company’s developments closely, especially in light of recent insider trading activities and updates to analysts’ ratings.
