Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Sold by Stephens Investment Management Group LLC

by · The Markets Daily

Stephens Investment Management Group LLC lessened its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Free Report) by 5.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 618,696 shares of the biotechnology company’s stock after selling 33,304 shares during the quarter. Stephens Investment Management Group LLC owned about 3.44% of Ligand Pharmaceuticals worth $61,925,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LGND. Chicago Capital LLC boosted its stake in shares of Ligand Pharmaceuticals by 124.3% during the second quarter. Chicago Capital LLC now owns 514,946 shares of the biotechnology company’s stock valued at $43,389,000 after acquiring an additional 285,350 shares during the last quarter. Ashford Capital Management Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the 1st quarter worth about $14,367,000. F M Investments LLC purchased a new stake in shares of Ligand Pharmaceuticals during the second quarter worth about $11,350,000. Dimensional Fund Advisors LP grew its holdings in shares of Ligand Pharmaceuticals by 6.7% during the second quarter. Dimensional Fund Advisors LP now owns 708,624 shares of the biotechnology company’s stock worth $59,707,000 after buying an additional 44,543 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Ligand Pharmaceuticals by 155.3% during the first quarter. Russell Investments Group Ltd. now owns 73,161 shares of the biotechnology company’s stock valued at $5,348,000 after buying an additional 44,499 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In related news, CEO Todd C. Davis bought 2,500 shares of the stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $97.39 per share, for a total transaction of $243,475.00. Following the completion of the purchase, the chief executive officer now owns 123,010 shares in the company, valued at $11,979,943.90. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Andrew Reardon sold 2,000 shares of Ligand Pharmaceuticals stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the sale, the insider now owns 22,534 shares of the company’s stock, valued at $2,244,386.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Todd C. Davis acquired 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $97.39 per share, for a total transaction of $243,475.00. Following the acquisition, the chief executive officer now directly owns 123,010 shares in the company, valued at $11,979,943.90. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 51,613 shares of company stock valued at $5,255,692. Company insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Barclays raised their target price on shares of Ligand Pharmaceuticals from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday. Oppenheimer started coverage on Ligand Pharmaceuticals in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $135.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. HC Wainwright restated a “buy” rating and issued a $157.00 price target on shares of Ligand Pharmaceuticals in a report on Thursday. Finally, Craig Hallum upped their price objective on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Six investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $132.83.

View Our Latest Stock Report on Ligand Pharmaceuticals

Ligand Pharmaceuticals Trading Down 3.7 %

LGND stock opened at $105.70 on Friday. The company has a market cap of $1.93 billion, a PE ratio of 48.94 and a beta of 1.00. The stock has a 50-day moving average price of $104.21 and a two-hundred day moving average price of $93.42. Ligand Pharmaceuticals Incorporated has a 12-month low of $50.87 and a 12-month high of $115.53.

Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last issued its earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.34. Ligand Pharmaceuticals had a return on equity of 7.91% and a net margin of 29.69%. The business had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $33.04 million. During the same quarter in the previous year, the business earned $1.10 EPS. The company’s revenue for the quarter was up 57.2% on a year-over-year basis. Equities analysts forecast that Ligand Pharmaceuticals Incorporated will post 3.47 EPS for the current fiscal year.

Ligand Pharmaceuticals Company Profile

(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.

Further Reading