Stephens Investment Management Group LLC Sells 50,271 Shares of Ligand Pharmaceuticals Incorporated $LGND

Stephens Investment Management Group LLC cut its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 8.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 554,542 shares of the biotechnology company’s stock after selling 50,271 shares during the period. Ligand Pharmaceuticals comprises approximately 1.3% of Stephens Investment Management Group LLC’s holdings, making the stock its 14th largest holding. Stephens Investment Management Group LLC’s holdings in Ligand Pharmaceuticals were worth $98,232,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. GAMMA Investing LLC grew its position in Ligand Pharmaceuticals by 12.3% in the third quarter. GAMMA Investing LLC now owns 575 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 63 shares during the period. Amalgamated Bank grew its holdings in shares of Ligand Pharmaceuticals by 1.6% in the 2nd quarter. Amalgamated Bank now owns 5,446 shares of the biotechnology company’s stock worth $619,000 after purchasing an additional 86 shares during the last quarter. CWC Advisors LLC. grew its holdings in shares of Ligand Pharmaceuticals by 2.6% in the 2nd quarter. CWC Advisors LLC. now owns 3,518 shares of the biotechnology company’s stock worth $400,000 after purchasing an additional 88 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ligand Pharmaceuticals by 14.1% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 745 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 92 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Ligand Pharmaceuticals by 2.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 5,184 shares of the biotechnology company’s stock valued at $589,000 after purchasing an additional 105 shares during the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Trading Down 1.6%

LGND stock opened at $192.97 on Friday. The company has a quick ratio of 24.30, a current ratio of 24.69 and a debt-to-equity ratio of 0.47. Ligand Pharmaceuticals Incorporated has a twelve month low of $93.58 and a twelve month high of $212.49. The company has a market cap of $3.80 billion, a P/E ratio of 93.22 and a beta of 0.97. The business has a fifty day moving average of $196.88 and a 200-day moving average of $172.54.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its quarterly earnings results on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $1.13. The business had revenue of $86.89 million for the quarter, compared to analysts’ expectations of $58.71 million. Ligand Pharmaceuticals had a return on equity of 5.71% and a net margin of 19.34%.The firm’s quarterly revenue was up 123.0% compared to the same quarter last year. During the same quarter last year, the business earned $1.84 earnings per share. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. As a group, equities research analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current year.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 1,804 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $188.31, for a total value of $339,711.24. Following the transaction, the chief financial officer directly owned 26,186 shares of the company’s stock, valued at approximately $4,931,085.66. This trade represents a 6.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John W. Kozarich sold 467 shares of Ligand Pharmaceuticals stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $189.58, for a total transaction of $88,533.86. Following the sale, the director directly owned 43,654 shares of the company’s stock, valued at $8,275,925.32. This represents a 1.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 3,205 shares of company stock valued at $608,923. 7.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Benchmark raised their price objective on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, November 7th. HC Wainwright raised their price target on Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Citigroup started coverage on Ligand Pharmaceuticals in a research note on Tuesday, December 9th. They issued a “buy” rating and a $270.00 price objective on the stock. Royal Bank Of Canada lifted their price target on Ligand Pharmaceuticals from $234.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a research report on Monday, December 29th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $239.33.

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.