Ligand Pharmaceuticals Incorporated $LGND Shares Purchased by Atria Investments Inc

Atria Investments Inc increased its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 7.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,472 shares of the biotechnology company’s stock after purchasing an additional 391 shares during the period. Atria Investments Inc’s holdings in Ligand Pharmaceuticals were worth $622,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Jacobs Levy Equity Management Inc. acquired a new position in Ligand Pharmaceuticals in the first quarter valued at approximately $16,526,000. CenterBook Partners LP raised its position in Ligand Pharmaceuticals by 190.2% in the first quarter. CenterBook Partners LP now owns 68,299 shares of the biotechnology company’s stock valued at $7,181,000 after purchasing an additional 44,760 shares during the period. Nuveen LLC acquired a new position in shares of Ligand Pharmaceuticals in the 1st quarter valued at $4,657,000. Russell Investments Group Ltd. grew its holdings in shares of Ligand Pharmaceuticals by 41.6% during the 1st quarter. Russell Investments Group Ltd. now owns 135,365 shares of the biotechnology company’s stock worth $14,232,000 after purchasing an additional 39,765 shares during the period. Finally, Aberdeen Group plc increased its position in shares of Ligand Pharmaceuticals by 22.3% during the 1st quarter. Aberdeen Group plc now owns 216,241 shares of the biotechnology company’s stock worth $22,736,000 after purchasing an additional 39,481 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on LGND shares. Wall Street Zen raised shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings raised shares of Ligand Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. Royal Bank Of Canada lifted their target price on shares of Ligand Pharmaceuticals from $155.00 to $185.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Benchmark upped their price target on Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Oppenheimer lifted their price objective on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $198.17.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, Director Jason Aryeh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $170.81, for a total transaction of $1,708,100.00. Following the sale, the director owned 69,289 shares of the company’s stock, valued at approximately $11,835,254.09. This trade represents a 12.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John W. Kozarich sold 467 shares of the business’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $191.05, for a total value of $89,220.35. Following the sale, the director owned 44,588 shares of the company’s stock, valued at approximately $8,518,537.40. The trade was a 1.04% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 11,401 shares of company stock worth $1,956,894 in the last three months. 7.00% of the stock is currently owned by corporate insiders.

Ligand Pharmaceuticals Stock Down 2.8%

Shares of NASDAQ:LGND opened at $202.48 on Monday. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $93.58 and a fifty-two week high of $211.91. The firm’s 50 day moving average price is $177.98 and its 200 day moving average price is $142.14. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of -50.62 and a beta of 0.91.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data on Thursday, November 6th. The biotechnology company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $1.96 by $1.13. Ligand Pharmaceuticals had a negative net margin of 40.44% and a negative return on equity of 9.21%. The company had revenue of $86.89 million for the quarter, compared to the consensus estimate of $58.71 million. During the same period in the prior year, the firm posted $1.84 EPS. The company’s quarterly revenue was up 123.0% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. On average, equities analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current year.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.