Quantinno Capital Management LP raised its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Free Report) by 107.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,227 shares of the biotechnology company’s stock after buying an additional 3,228 shares during the quarter. Quantinno Capital Management LP’s holdings in Ligand Pharmaceuticals were worth $1,243,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Maryland State Retirement & Pension System increased its position in shares of Ligand Pharmaceuticals by 2.2% in the fourth quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock worth $543,000 after acquiring an additional 61 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Ligand Pharmaceuticals by 86.3% during the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after acquiring an additional 69 shares during the period. Cerity Partners LLC lifted its position in shares of Ligand Pharmaceuticals by 5.4% in the 4th quarter. Cerity Partners LLC now owns 1,531 shares of the biotechnology company’s stock valued at $289,000 after acquiring an additional 79 shares in the last quarter. 1492 Capital Management LLC lifted its position in shares of Ligand Pharmaceuticals by 4.4% in the 1st quarter. 1492 Capital Management LLC now owns 1,958 shares of the biotechnology company’s stock valued at $391,000 after acquiring an additional 82 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in Ligand Pharmaceuticals by 1.0% in the 4th quarter. Blair William & Co. IL now owns 8,474 shares of the biotechnology company’s stock worth $1,602,000 after purchasing an additional 88 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, Director Jason Aryeh sold 4,500 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $250.00, for a total transaction of $1,125,000.00. Following the completion of the sale, the director directly owned 102,580 shares in the company, valued at approximately $25,645,000. This trade represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Octavio Espinoza sold 31,641 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $292.06, for a total value of $9,241,070.46. Following the sale, the chief financial officer directly owned 27,696 shares of the company’s stock, valued at approximately $8,088,893.76. The trade was a 53.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,976 shares of company stock valued at $20,075,721 in the last three months. Company insiders own 5.60% of the company’s stock.
Analyst Upgrades and Downgrades
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Ligand Pharmaceuticals Stock Performance
Shares of LGND opened at $294.60 on Friday. The company has a market capitalization of $5.87 billion, a PE ratio of 31.51, a PEG ratio of 2.51 and a beta of 1.13. The company has a debt-to-equity ratio of 1.16, a quick ratio of 20.95 and a current ratio of 31.18. The company’s 50 day moving average price is $291.80 and its 200 day moving average price is $238.57. Ligand Pharmaceuticals Incorporated has a 52 week low of $149.51 and a 52 week high of $326.63.
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last released its earnings results on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.97 by $0.40. The company had revenue of $63.69 million during the quarter, compared to the consensus estimate of $61.30 million. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The company’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.60 EPS. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. Research analysts expect that Ligand Pharmaceuticals Incorporated will post 4.89 EPS for the current fiscal year.
About Ligand Pharmaceuticals
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.
The company’s product offerings center around several core platforms.
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