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Andrew Reardon, the Chief Legal Officer and Secretary of Ligand Pharmaceuticals Inc. (NASDAQ:LGND), recently sold 500 shares of the company’s common stock. The shares were sold at an average price of $114.54 each, totaling approximately $57,270. Following this transaction, Reardon retains ownership of 32,403 shares. The sale was recorded on June 10, 2025, according to the SEC filing.The transaction comes as Ligand, currently valued at $2.2 billion, trades near its InvestingPro Fair Value. The stock has shown strong momentum with a 9.86% gain over the past week, though InvestingPro analysis indicates the stock is in overbought territory. With analyst targets ranging from $135 to $157, and the company maintaining a healthy current ratio of 5.27, investors seeking deeper insights can access additional ProTips and comprehensive insider trading analysis through InvestingPro.
In other recent news, Ligand Pharmaceuticals reported a strong start to 2025, exceeding earnings expectations for the first quarter. The company achieved an adjusted earnings per share (EPS) of $1.33, surpassing the projected $1.22, and generated total revenue of $45 million, which was above the anticipated $37.92 million. This represents a 46% increase in revenue compared to the same period last year, primarily driven by a significant rise in royalty revenue. Ligand Pharmaceuticals also reaffirmed its full-year guidance, projecting continued growth in royalty revenue and adjusted EPS. In merger news, Ligand announced a strategic transaction involving the merger of its subsidiary, Pylthos Therapeutics, with Channel Therapeutics, supported by a $50 million equity capital raise. This merger aims to accelerate the commercialization of Zelsuvme, an FDA-approved therapy, with Ligand retaining a 13% royalty interest. Despite the positive financial results, Ligand’s stock experienced a slight decline in pre-market trading, which could be attributed to broader market trends. Analyst firms have not provided recent upgrades or downgrades for Ligand Pharmaceuticals, but the company continues to focus on strategic investments to navigate the challenging biotech financing environment.
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