Ligand Pharmaceuticals Incorporated $LGND Shares Sold by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC trimmed its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 79.7% during the second quarter, Holdings Channel reports. The firm owned 10,675 shares of the biotechnology company’s stock after selling 41,900 shares during the quarter. Lisanti Capital Growth LLC’s holdings in Ligand Pharmaceuticals were worth $1,214,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of LGND. Maseco LLP acquired a new position in Ligand Pharmaceuticals during the 2nd quarter worth about $31,000. Simplex Trading LLC purchased a new stake in Ligand Pharmaceuticals during the second quarter worth about $61,000. Mirae Asset Global Investments Co. Ltd. increased its stake 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 worth $85,000 after purchasing an additional 92 shares during the period. Cornerstone Investment Partners LLC purchased a new position in shares of Ligand Pharmaceuticals in the second quarter valued at approximately $207,000. Finally, Supplemental Annuity Collective Trust of NJ acquired a new position in shares of Ligand Pharmaceuticals in the second quarter valued at approximately $216,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Down 2.8%

Shares of LGND opened at $202.48 on Friday. Ligand Pharmaceuticals Incorporated has a 52-week low of $93.58 and a 52-week high of $211.91. The stock has a 50 day moving average price of $177.98 and a 200 day moving average price of $141.89. The company has a market capitalization of $3.97 billion, a price-to-earnings ratio of -50.62 and a beta of 0.91.

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

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $170.81, for a total value of $1,708,100.00. Following the completion of the sale, the director owned 69,289 shares in the company, valued at approximately $11,835,254.09. The trade was a 12.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John W. Kozarich sold 467 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $191.05, for a total transaction of $89,220.35. Following the transaction, the director owned 44,588 shares in the company, valued at approximately $8,518,537.40. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 11,401 shares of company stock worth $1,956,894. 7.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have commented on LGND shares. HC Wainwright raised their price target on shares of Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a research report on Thursday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, October 8th. Wall Street Zen upgraded Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Oppenheimer lifted their price objective on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, Benchmark upped their target price on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $198.17.

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.