JW Asset Management LLC Buys Shares of 4,000 Ligand Pharmaceuticals Incorporated $LGND

JW Asset Management LLC purchased a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the second quarter, HoldingsChannel.com reports. The fund purchased 4,000 shares of the biotechnology company’s stock, valued at approximately $1,264,000. Ligand Pharmaceuticals accounts for 0.4% of JW Asset Management LLC’s portfolio, making the stock its 16th biggest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Legato Capital Management LLC raised its holdings in Ligand Pharmaceuticals by 61.0% during the 4th quarter. Legato Capital Management LLC now owns 26,241 shares of the biotechnology company’s stock worth $4,961,000 after buying an additional 9,944 shares during the period. Franklin Resources Inc. boosted its stake in Ligand Pharmaceuticals by 115.9% in the 4th quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company’s stock worth $93,809,000 after purchasing an additional 266,304 shares during the period. GW&K Investment Management LLC increased its holdings in Ligand Pharmaceuticals by 265.4% during the 4th quarter. GW&K Investment Management LLC now owns 117,432 shares of the biotechnology company’s stock worth $22,204,000 after purchasing an additional 85,297 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 20.1% in the fourth quarter. Fisher Asset Management LLC now owns 130,858 shares of the biotechnology company’s stock valued at $24,741,000 after purchasing an additional 21,932 shares in the last quarter. Finally, Future Fund LLC acquired a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth about $1,755,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Weiss Ratings raised Ligand Pharmaceuticals from a “hold (c)” rating to a “buy (b-)” rating in a report on Tuesday, August 11th. Citigroup began coverage on Ligand Pharmaceuticals in a research report on Tuesday, July 21st. They set a “buy” rating and a $387.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and set a $326.00 price objective (up from $285.00) on shares of Ligand Pharmaceuticals in a research note on Monday, August 3rd. HC Wainwright raised their price target on shares of Ligand Pharmaceuticals from $289.00 to $358.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Royal Bank Of Canada increased their price objective on Ligand Pharmaceuticals from $340.00 to $345.00 and gave the company an “outperform” rating in a research note on Friday, August 7th. Nine investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $335.75.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, Director John 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 value of $1,151,790.08. Following the transaction, the director owned 26,969 shares in the company, valued at approximately $6,765,982.72. This represents a 14.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Andrew Reardon sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $286.09, for a total value of $1,430,450.00. Following the sale, the insider owned 36,514 shares of the company’s stock, valued at approximately $10,446,290.26. The trade was a 12.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 71,976 shares of company stock worth $20,370,871. Corporate insiders own 5.60% of the company’s stock.

Ligand Pharmaceuticals Stock Up 1.1%

NASDAQ LGND traded up $3.23 on Tuesday, hitting $288.83. 216,420 shares of the stock were exchanged, compared to its average volume of 270,998. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $161.82 and a fifty-two week high of $326.63. The company has a 50-day moving average price of $297.27 and a 200-day moving average price of $249.61. The company has a quick ratio of 30.96, a current ratio of 31.18 and a debt-to-equity ratio of 1.16. The company has a market cap of $5.76 billion, a PE ratio of 30.89, a PEG ratio of 2.29 and a beta of 1.11.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, August 6th. The biotechnology company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.40. The business had revenue of $63.69 million during the quarter, compared to analysts’ expectations of $61.30 million. Ligand Pharmaceuticals had a net margin of 67.88% and a return on equity of 20.06%. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.60 EPS. Ligand Pharmaceuticals has set its FY 2026 guidance at 9.000-9.500 EPS. Sell-side analysts anticipate that Ligand Pharmaceuticals Incorporated will post 5.29 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.