Ligand Pharmaceuticals Incorporated $LGND Stock Holdings Trimmed by Ranger Investment Management L.P.

Ranger Investment Management L.P. reduced its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 0.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 267,943 shares of the biotechnology company’s stock after selling 2,040 shares during the period. Ligand Pharmaceuticals accounts for about 3.9% of Ranger Investment Management L.P.’s portfolio, making the stock its largest holding. Ranger Investment Management L.P. owned approximately 1.34% of Ligand Pharmaceuticals worth $53,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Maryland State Retirement & Pension System lifted its position in Ligand Pharmaceuticals by 2.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company’s stock worth $543,000 after buying an additional 61 shares in the last quarter. CIBC Private Wealth Group LLC boosted its stake in Ligand Pharmaceuticals by 86.3% during the third 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 during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Ligand Pharmaceuticals by 3.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,688 shares of the biotechnology company’s stock valued at $527,000 after buying an additional 78 shares in the last quarter. Cerity Partners LLC grew its holdings in Ligand Pharmaceuticals by 5.4% in the 4th quarter. Cerity Partners LLC now owns 1,531 shares of the biotechnology company’s stock valued at $289,000 after buying an additional 79 shares in the last quarter. Finally, 1492 Capital Management LLC increased its stake in shares of Ligand Pharmaceuticals by 4.4% in the 1st quarter. 1492 Capital Management LLC now owns 1,958 shares of the biotechnology company’s stock worth $391,000 after acquiring an additional 82 shares during the last quarter. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Price Performance

NASDAQ:LGND opened at $296.28 on Wednesday. Ligand Pharmaceuticals Incorporated has a 52 week low of $129.55 and a 52 week high of $326.63. The company has a quick ratio of 20.95, a current ratio of 21.28 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $5.94 billion, a P/E ratio of 40.20, a P/E/G ratio of 2.94 and a beta of 1.10. The stock’s fifty day moving average is $275.49 and its two-hundred day moving average is $230.11.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.21). The business had revenue of $51.72 million during the quarter, compared to analyst estimates of $59.10 million. Ligand Pharmaceuticals had a net margin of 55.95% and a return on equity of 16.19%. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period last year, the company earned $1.33 EPS. Equities analysts expect that Ligand Pharmaceuticals Incorporated will post 4.56 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Bank of America lifted their price target on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a report on Thursday, July 9th. Weiss Ratings cut shares of Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Royal Bank Of Canada raised their price objective on shares of Ligand Pharmaceuticals from $262.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Citigroup initiated coverage on shares of Ligand Pharmaceuticals in a research note on Tuesday, July 21st. They set a “buy” rating and a $387.00 target price on the stock. Finally, Stifel Nicolaus boosted their target price on shares of Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $319.00.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 4,500 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 102,580 shares of the company’s stock, valued at $25,645,000. This trade represents a 4.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John L. Lamattina sold 4,591 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $250.88, for a total transaction of $1,151,790.08. Following the transaction, the director directly owned 26,969 shares of the company’s stock, valued at approximately $6,765,982.72. This trade represents a 14.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,698 shares of company stock valued at $9,019,252 over the last three months. Company insiders own 5.60% of the company’s stock.

Ligand Pharmaceuticals Company 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.