Impax Asset Management Group plc Cuts Stake in Ligand Pharmaceuticals Incorporated $LGND

Impax Asset Management Group plc cut its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 7.1% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 260,208 shares of the biotechnology company’s stock after selling 20,000 shares during the period. Impax Asset Management Group plc’s holdings in Ligand Pharmaceuticals were worth $29,580,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Arizona State Retirement System increased its stake in Ligand Pharmaceuticals by 2.1% during the 1st quarter. Arizona State Retirement System now owns 5,407 shares of the biotechnology company’s stock worth $568,000 after buying an additional 110 shares during the period. New York State Common Retirement Fund raised its position in shares of Ligand Pharmaceuticals by 7.7% in the 1st quarter. New York State Common Retirement Fund now owns 99,537 shares of the biotechnology company’s stock valued at $10,465,000 after purchasing an additional 7,119 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Ligand Pharmaceuticals by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 277,791 shares of the biotechnology company’s stock worth $29,207,000 after buying an additional 1,060 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Ligand Pharmaceuticals by 94.6% in the first quarter. Victory Capital Management Inc. now owns 27,678 shares of the biotechnology company’s stock valued at $2,910,000 after acquiring an additional 13,456 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Ligand Pharmaceuticals during the 1st quarter worth $2,217,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Price Performance

Shares of LGND stock opened at $205.61 on Thursday. Ligand Pharmaceuticals Incorporated has a 12-month low of $93.58 and a 12-month high of $212.49. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of -51.40 and a beta of 0.91. The business has a 50 day simple moving average of $180.61 and a 200 day simple moving average of $143.99.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share for the quarter, beating the consensus estimate of $1.96 by $1.13. Ligand Pharmaceuticals had a negative return on equity of 9.21% and a negative net margin of 40.44%.The firm had revenue of $86.89 million for the quarter, compared to the consensus estimate of $58.71 million. During the same quarter in the previous year, the business earned $1.84 EPS. The firm’s revenue for the quarter was up 123.0% on a year-over-year basis. 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 fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on LGND shares. Oppenheimer increased their target price on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Royal Bank Of Canada raised their price target on shares of Ligand Pharmaceuticals from $185.00 to $234.00 and gave the stock an “outperform” rating in a research report on Monday. Wall Street Zen upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Weiss Ratings upgraded Ligand Pharmaceuticals from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, November 7th. Finally, HC Wainwright upped their target price on Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Ligand Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $206.33.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $170.81, for a total transaction of $1,708,100.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John W. Kozarich sold 467 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $191.05, for a total transaction of $89,220.35. Following the sale, the director owned 44,588 shares in the company, valued at $8,518,537.40. This trade represents a 1.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 11,401 shares of company stock worth $1,956,894. Company insiders own 7.00% of the company’s stock.

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.