California State Teachers Retirement System Acquires 4,987 Shares of Ligand Pharmaceuticals Incorporated $LGND

California State Teachers Retirement System boosted its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 26.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,784 shares of the biotechnology company’s stock after acquiring an additional 4,987 shares during the quarter. California State Teachers Retirement System’s holdings in Ligand Pharmaceuticals were worth $4,748,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in Ligand Pharmaceuticals by 115.9% in the fourth quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company’s stock worth $93,809,000 after buying an additional 266,304 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Ligand Pharmaceuticals by 64.6% during the third quarter. Invesco Ltd. now owns 378,295 shares of the biotechnology company’s stock valued at $67,011,000 after acquiring an additional 148,437 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Ligand Pharmaceuticals by 385,028.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 146,349 shares of the biotechnology company’s stock valued at $27,670,000 after purchasing an additional 146,311 shares during the last quarter. Fiera Capital Corp acquired a new stake in Ligand Pharmaceuticals in the 4th quarter worth approximately $24,813,000. Finally, Nomura Holdings Inc. purchased a new stake in Ligand Pharmaceuticals during the 3rd quarter worth approximately $21,498,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

LGND has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 15th. Citigroup started coverage on Ligand Pharmaceuticals in a research report on Tuesday, July 21st. They set a “buy” rating and a $387.00 price target for the company. Stifel Nicolaus increased their price objective on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Royal Bank Of Canada raised their price objective on Ligand Pharmaceuticals from $340.00 to $345.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Bank of America lifted their target price on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $336.57.

Insider Activity at Ligand Pharmaceuticals

In other news, Director John L. Lamattina sold 4,591 shares of the stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $250.88, for a total value of $1,151,790.08. Following the completion of the sale, the director owned 26,969 shares of the company’s stock, valued at $6,765,982.72. This represents a 14.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Jason Aryeh sold 4,500 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $250.00, for a total transaction of $1,125,000.00. Following the sale, the director directly owned 102,580 shares in the company, valued at approximately $25,645,000. The trade was a 4.20% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 35,231 shares of company stock valued at $9,199,401 in the last three months. Company insiders own 5.60% of the company’s stock.

Key Headlines Impacting Ligand Pharmaceuticals

Here are the key news stories impacting Ligand Pharmaceuticals this week:

• Positive Sentiment: Ligand reported second-quarter adjusted EPS of $2.37, beating analysts’ $1.95 consensus estimate, while revenue of $63.69 million exceeded expectations of $60.87 million. Revenue increased 33.8% year over year, and EPS rose from $1.60 in the prior-year quarter. Ligand Reports Second Quarter 2026 Financial Results
• Positive Sentiment: The company raised its fiscal 2026 adjusted EPS outlook to $9.00-$9.50, above the $8.13 analyst consensus. The outlook implies continued earnings growth and supports the investment case for Ligand’s royalty-focused business model. Ligand Pharmaceuticals Q2 Adjusted Earnings, Revenue Rise; 2026 Adjusted EPS Outlook Lifted, Revenue Outlook Reaffirmed
• Positive Sentiment: Royal Bank of Canada raised its price target from $340 to $345 and maintained an “outperform” rating. HC Wainwright also lifted its target from $289 to $358 and assigned a “buy” rating, signaling that analysts see further upside. Analyst Price Target Updates
• Neutral Sentiment: Ligand reaffirmed fiscal 2026 revenue guidance of $270 million-$310 million. Although the midpoint is below the $287.5 million consensus estimate, the range remains consistent with the company’s previous outlook and may reflect the timing of royalty and licensing revenue. Ligand Pharmaceuticals 2026 Q2 Results Presentation
• Negative Sentiment: The stock’s decline following the earnings beat suggests investors may have been looking for a larger revenue outlook increase or may be locking in gains after the shares’ strong run. The mixed revenue guidance could be limiting the immediate reaction to the otherwise favorable results. Biopharma Royalty Powerhouse Dips Despite Beat-and-Raise Quarter

Ligand Pharmaceuticals Price Performance

Ligand Pharmaceuticals stock opened at $293.15 on Friday. The company has a fifty day simple moving average of $285.97 and a 200-day simple moving average of $235.30. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 31.35, a PEG ratio of 2.77 and a beta of 1.13. The company has a quick ratio of 20.95, a current ratio of 34.52 and a debt-to-equity ratio of 1.16. Ligand Pharmaceuticals Incorporated has a 52-week low of $137.14 and a 52-week high of $326.63.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $1.97 by $0.40. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The company had revenue of $63.69 million during the quarter, compared to the consensus estimate of $61.30 million. During the same quarter in the prior year, the firm earned $1.60 EPS. Ligand Pharmaceuticals’s quarterly revenue was up 33.8% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. On average, equities analysts anticipate that Ligand Pharmaceuticals Incorporated will post 4.89 EPS for the current fiscal year.

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.