Penn Capital Management Company LLC Trims Position in Ligand Pharmaceuticals Incorporated $LGND

Penn Capital Management Company LLC trimmed its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 10.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,282 shares of the biotechnology company’s stock after selling 13,102 shares during the period. Ligand Pharmaceuticals accounts for 1.5% of Penn Capital Management Company LLC’s portfolio, making the stock its 11th largest holding. Penn Capital Management Company LLC owned 0.55% of Ligand Pharmaceuticals worth $19,024,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC increased its stake in Ligand Pharmaceuticals by 86.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock worth $26,000 after buying an additional 69 shares in the last quarter. CIBC Bancorp USA Inc. purchased a new position in shares of Ligand Pharmaceuticals in the third quarter valued at about $360,000. Cim Investment Management Inc. bought a new position in shares of Ligand Pharmaceuticals in the third quarter worth about $254,000. Castleark Management LLC bought a new position in shares of Ligand Pharmaceuticals in the third quarter worth about $11,457,000. Finally, CANADA LIFE ASSURANCE Co grew its position in shares of Ligand Pharmaceuticals by 1.5% during the third quarter. CANADA LIFE ASSURANCE Co now owns 23,299 shares of the biotechnology company’s stock worth $4,030,000 after purchasing an additional 335 shares in the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on LGND. HC Wainwright boosted their price target on Ligand Pharmaceuticals from $231.00 to $239.00 and gave the stock a “buy” rating in a report on Tuesday, February 24th. Royal Bank Of Canada increased their price objective on shares of Ligand Pharmaceuticals from $234.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, December 10th. Bank of America initiated coverage on shares of Ligand Pharmaceuticals in a research report on Wednesday, March 11th. They set a “buy” rating and a $244.00 price objective on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Ligand Pharmaceuticals in a report on Monday, December 29th. Finally, Oppenheimer raised their target price on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the company an “outperform” rating in a research note on Friday, February 27th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $245.00.

Ligand Pharmaceuticals Stock Up 1.5%

Shares of NASDAQ LGND opened at $210.99 on Wednesday. The company has a current ratio of 22.23, a quick ratio of 21.98 and a debt-to-equity ratio of 0.44. Ligand Pharmaceuticals Incorporated has a 12-month low of $93.58 and a 12-month high of $227.92. The firm’s 50-day moving average price is $196.89 and its 200-day moving average price is $190.14. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of 36.19, a P/E/G ratio of 2.56 and a beta of 1.17.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, February 26th. The biotechnology company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.46 by $0.56. Ligand Pharmaceuticals had a return on equity of 13.86% and a net margin of 46.42%.The company had revenue of $59.67 million during the quarter, compared to analyst estimates of $55.59 million. During the same quarter last year, the business posted $1.27 earnings per share. The firm’s revenue was up 39.5% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. On average, equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Andrew Reardon sold 5,000 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $206.35, for a total value of $1,031,750.00. Following the completion of the sale, the insider directly owned 36,869 shares in the company, valued at $7,607,918.15. This trade represents a 11.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Kozarich sold 467 shares of Ligand Pharmaceuticals stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $200.50, for a total transaction of $93,633.50. Following the transaction, the director directly owned 42,720 shares of the company’s stock, valued at $8,565,360. The trade was a 1.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 24,915 shares of company stock worth $5,165,939 in the last 90 days. Company insiders own 7.00% of the company’s stock.

Ligand Pharmaceuticals 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.