Ligand Pharmaceuticals Incorporated $LGND Shares Acquired by Legal & General Group Plc

by · The Cerbat Gem

Legal & General Group Plc boosted its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Free Report) by 15.8% during the 2nd quarter, HoldingsChannel reports. The firm owned 118,333 shares of the biotechnology company’s stock after buying an additional 16,171 shares during the quarter. Legal & General Group Plc’s holdings in Ligand Pharmaceuticals were worth $13,452,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Maseco LLP acquired a new stake in shares of Ligand Pharmaceuticals in the second quarter valued at approximately $31,000. Simplex Trading LLC bought a new position in Ligand Pharmaceuticals in the 2nd quarter worth approximately $61,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Ligand Pharmaceuticals by 14.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 745 shares of the biotechnology company’s stock worth $85,000 after buying an additional 92 shares in the last quarter. Cornerstone Investment Partners LLC acquired a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $207,000. Finally, Supplemental Annuity Collective Trust of NJ acquired a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $216,000. Institutional investors own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on LGND. Weiss Ratings reiterated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a research report on Tuesday. Oppenheimer raised their price target on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. HC Wainwright upped their price objective on shares of Ligand Pharmaceuticals from $206.00 to $231.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Benchmark raised their target price on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Wall Street Zen raised shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $206.33.

Read Our Latest Research Report on LGND

Ligand Pharmaceuticals Price Performance

NASDAQ LGND opened at $203.15 on Friday. Ligand Pharmaceuticals Incorporated has a 12 month low of $93.58 and a 12 month high of $212.49. The company has a market capitalization of $4.00 billion, a P/E ratio of -50.79 and a beta of 0.91. The company’s 50 day simple moving average is $189.46 and its 200 day simple moving average is $152.09.

Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last issued its earnings results on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $1.13. The firm had revenue of $86.89 million during the quarter, compared to analysts’ expectations of $58.71 million. Ligand Pharmaceuticals had a negative net margin of 40.44% and a negative return on equity of 9.21%. The firm’s revenue for the quarter was up 123.0% compared to the same quarter last year. During the same period last year, the firm posted $1.84 earnings per share. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. On average, analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current year.

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 467 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $191.05, for a total value of $89,220.35. Following the completion of the transaction, the director directly 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. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Jason Aryeh sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, 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 SEC filing for this sale provides additional information. Insiders have sold 11,401 shares of company stock worth $1,956,894 over the last ninety days. 7.00% of the stock is owned by insiders.

About Ligand Pharmaceuticals

(Free Report)

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.

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