JW Asset Management LLC bought a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Free Report) during the second quarter, according to its most recent filing with the SEC. The firm bought 4,000 shares of the biotechnology company’s stock, valued at approximately $1,264,000. Ligand Pharmaceuticals comprises 0.4% of JW Asset Management LLC’s holdings, making the stock its 16th biggest holding.
Several other institutional investors have also recently bought and sold shares of the company. Legato Capital Management LLC boosted its stake in Ligand Pharmaceuticals by 61.0% during the 4th quarter. Legato Capital Management LLC now owns 26,241 shares of the biotechnology company’s stock valued at $4,961,000 after purchasing an additional 9,944 shares during the period. Franklin Resources Inc. increased its holdings in shares of Ligand Pharmaceuticals by 115.9% during the 4th quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company’s stock worth $93,809,000 after purchasing an additional 266,304 shares during the period. GW&K Investment Management LLC raised its position in shares of Ligand Pharmaceuticals by 265.4% during the fourth quarter. GW&K Investment Management LLC now owns 117,432 shares of the biotechnology company’s stock valued at $22,204,000 after buying an additional 85,297 shares during the last quarter. Fisher Asset Management LLC lifted its stake in shares of Ligand Pharmaceuticals by 20.1% in the fourth quarter. Fisher Asset Management LLC now owns 130,858 shares of the biotechnology company’s stock valued at $24,741,000 after buying an additional 21,932 shares during the period. Finally, Future Fund LLC acquired a new stake in Ligand Pharmaceuticals during the fourth quarter worth about $1,755,000. Institutional investors own 91.28% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have weighed in on LGND. HC Wainwright lifted their price objective on Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a “buy” rating in a report on Thursday, August 6th. Citigroup initiated coverage on Ligand Pharmaceuticals in a research note on Tuesday, July 21st. They issued a “buy” rating and a $387.00 price target on the stock. Stifel Nicolaus upped their price target on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a “buy” rating in a research report on Wednesday, July 8th. Weiss Ratings upgraded shares of Ligand Pharmaceuticals from a “hold (c)” rating to a “buy (b-)” rating in a research note on Tuesday, August 11th. Finally, Bank of America upped their target price on shares of Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $335.75.
Ligand Pharmaceuticals Price Performance
LGND stock traded up $3.23 during midday trading on Tuesday, reaching $288.83. 216,420 shares of the company’s stock traded hands, compared to its average volume of 270,998. The company has a 50-day simple moving average of $297.27 and a two-hundred day simple moving average of $249.61. The company has a quick ratio of 30.96, a current ratio of 31.18 and a debt-to-equity ratio of 1.16. Ligand Pharmaceuticals Incorporated has a 1-year low of $161.82 and a 1-year high of $326.63. The company has a market cap of $5.76 billion, a price-to-earnings ratio of 30.89, a PEG ratio of 2.29 and a beta of 1.11.
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last announced its earnings results on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.40. The company had revenue of $63.69 million during the quarter, compared to analyst estimates of $61.30 million. Ligand Pharmaceuticals had a return on equity of 20.06% and a net margin of 67.88%.The firm’s quarterly revenue was up 33.8% compared to the same quarter last year. During the same period last year, the company posted $1.60 earnings per share. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. On average, analysts anticipate that Ligand Pharmaceuticals Incorporated will post 5.29 earnings per share for the current year.
Insider Activity at Ligand Pharmaceuticals
In other 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 value of $1,125,000.00. Following the transaction, the director owned 102,580 shares of the company’s stock, valued at $25,645,000. This represents a 4.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Octavio Espinoza sold 31,641 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $292.06, for a total value of $9,241,070.46. Following the completion of the transaction, the chief financial officer owned 27,696 shares in the company, valued at $8,088,893.76. This represents a 53.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 71,976 shares of company stock worth $20,370,871. 5.60% of the stock is owned by company insiders.
Ligand Pharmaceuticals Company Profile
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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