Ligand Pharmaceuticals Incorporated $LGND Stock Position Raised by Russell Investments Group Ltd.

Russell Investments Group Ltd. increased its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 7.5% in the second quarter, HoldingsChannel reports. The firm owned 145,533 shares of the biotechnology company’s stock after acquiring an additional 10,168 shares during the period. Russell Investments Group Ltd.’s holdings in Ligand Pharmaceuticals were worth $16,544,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LGND. Maseco LLP acquired a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at $31,000. Simplex Trading LLC purchased a new position in shares of Ligand Pharmaceuticals during the second quarter valued at $61,000. Mirae Asset Global Investments Co. Ltd. raised its position in Ligand Pharmaceuticals by 14.1% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 745 shares of the biotechnology company’s stock valued at $85,000 after buying an additional 92 shares during the period. Cornerstone Investment Partners LLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter worth about $207,000. Finally, Supplemental Annuity Collective Trust of NJ acquired a new stake in Ligand Pharmaceuticals during the 2nd quarter worth about $216,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Ligand Pharmaceuticals

In other news, Director John W. Kozarich sold 467 shares of the company’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 completion of the sale, the director owned 44,588 shares in the company, valued at approximately $8,518,537.40. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jason Aryeh sold 10,000 shares of the stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $170.81, for a total value of $1,708,100.00. Following the transaction, the director directly owned 69,289 shares in the company, valued at approximately $11,835,254.09. This represents a 12.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,401 shares of company stock valued at $1,956,894 in the last ninety days. Insiders own 7.00% of the company’s stock.

Wall Street Analysts Forecast Growth

LGND has been the topic of a number of research reports. Oppenheimer upped their target price on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. Royal Bank Of Canada upped their price objective on shares of Ligand Pharmaceuticals from $185.00 to $234.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Wall Street Zen upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Benchmark boosted their price target on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the company a “buy” rating in a report on Friday, November 7th. Finally, HC Wainwright upped their price target on shares of Ligand Pharmaceuticals from $206.00 to $231.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $206.33.

Ligand Pharmaceuticals Stock Down 1.5%

NASDAQ LGND opened at $203.15 on Monday. The stock has a market capitalization of $4.00 billion, a PE ratio of -50.79 and a beta of 0.91. Ligand Pharmaceuticals Incorporated has a 12-month low of $93.58 and a 12-month high of $212.49. The company has a 50 day moving average price of $189.46 and a two-hundred day moving average price of $152.42.

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

Ligand Pharmaceuticals Profile

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.