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Octavio Espinoza, Chief Financial Officer of Ligand Pharmaceuticals Inc. (NASDAQ:LGND), executed a notable transaction involving the company’s stock. On March 4, Espinoza sold 5,000 shares of common stock at a weighted average price of $115.03, totaling approximately $575,148. Following this transaction, Espinoza holds 18,879 shares directly. The transaction comes as Ligand, with a market capitalization of $2.2 billion, trades near its InvestingPro calculated Fair Value, while maintaining impressive gross profit margins of 91%.
In addition to the sale, Espinoza acquired 7,484 restricted stock units (RSUs), which will vest over three years in equal annual installments beginning February 15, 2026. Furthermore, Espinoza was granted stock options for 32,717 shares, with vesting conditions attached over a period extending up to 2035.
These transactions reflect Espinoza’s ongoing involvement with Ligand Pharmaceuticals, a company specializing in pharmaceutical preparations, and highlight his continued investment in the firm’s future.
In other recent news, Ligand Pharmaceuticals reported strong financial results for the fourth quarter of 2024, with revenue reaching approximately $42.8 million, surpassing the consensus estimate of $39.0 million. The company’s adjusted earnings per share (EPS) for the quarter came in at $1.27, exceeding both the consensus and RBC Capital’s estimates. Ligand’s total revenue for 2024 increased by 27% to $167.1 million, driven by a 28% growth in royalty revenue. The company ended the year with $256 million in cash and investments, positioning it well for future strategic initiatives.
RBC Capital Markets analyst Douglas Miehm raised the price target for Ligand Pharmaceuticals to $153, maintaining an Outperform rating. This revision is based on updated consensus forecasts for Ligand’s drug portfolio and a recent royalty financing transaction. Ligand’s management has reaffirmed its 2025 guidance, projecting revenues between $180 million and $200 million, with an adjusted EPS forecast of $6.00 to $6.25 per share.
Looking ahead, Ligand anticipates several significant milestones in 2025, including strategic transactions and the mid-year launch of Zelsuvmi. The company continues to focus on expanding its commercial portfolio and reducing operational expenses, which has positioned it for sustained growth. Ligand’s strategic partnerships and investments, such as the recent $50 million commitment to Castle Creek Biosciences, highlight its ongoing efforts to diversify and strengthen its revenue streams.
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