3,960 Shares in Ligand Pharmaceuticals Incorporated $LGND Bought by Kings Path Partners LLC

Key Points

• Kings Path Partners purchased 3,960 Ligand Pharmaceuticals shares worth approximately $1.24 million, while institutional investors collectively own 91.28% of the company.
• Analysts remain bullish: all 10 covering analysts rate LGND a Buy, with a consensus price target of $337.89 and individual targets ranging from $330 to $358.
• Ligand reported quarterly EPS of $2.37, beating estimates by $0.40, while revenue rose 33.8% year over year to $63.69 million. The stock opened at $314.78, near its 12-month high of $326.63.

Kings Path Partners LLC bought a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 3,960 shares of the biotechnology company's stock, valued at approximately $1,237,000.

Several other institutional investors also recently modified their holdings of LGND. Janus Henderson Group PLC lifted its holdings in Ligand Pharmaceuticals by 1.5% during the first quarter. Janus Henderson Group PLC now owns 1,009,891 shares of the biotechnology company's stock worth $201,623,000 after acquiring an additional 14,491 shares during the period. Ranger Investment Management L.P. bought a new position in Ligand Pharmaceuticals in the 2nd quarter valued at $81,424,000. Rice Hall James & Associates LLC grew its stake in Ligand Pharmaceuticals by 1.4% in the 1st quarter. Rice Hall James & Associates LLC now owns 283,567 shares of the biotechnology company's stock valued at $56,614,000 after purchasing an additional 3,940 shares during the period. Bank of New York Mellon Corp bought a new position in Ligand Pharmaceuticals in the 2nd quarter valued at $41,429,000. Finally, Bank of America Corp DE grew its stake in Ligand Pharmaceuticals by 31.4% in the 1st quarter. Bank of America Corp DE now owns 157,865 shares of the biotechnology company's stock valued at $31,518,000 after purchasing an additional 37,696 shares during the period. 91.28% of the stock is owned by institutional investors.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Martine Zimmermann sold 1,200 shares of the firm's stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $285.00, for a total value of $342,000.00. Following the completion of the sale, the director directly owned 3,897 shares of the company's stock, valued at $1,110,645. This trade represents a 23.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Jason Haas sold 7,138 shares of the business's stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $292.81, for a total value of $2,090,077.78. Following the completion of the sale, the director owned 3,981 shares in the company, valued at approximately $1,165,676.61. The trade was a 64.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 54,979 shares of company stock valued at $16,068,898. Corporate insiders own 5.60% of the company's stock.

Analysts Set New Price Targets

LGND has been the subject of several research analyst reports. Barclays initiated coverage on Ligand Pharmaceuticals in a research report on Friday, September 25th. They set an "overweight" rating and a $345.00 target price for the company. Royal Bank Of Canada boosted their price target on shares of Ligand Pharmaceuticals from $340.00 to $345.00 and gave the stock an "outperform" rating in a report on Friday, August 7th. Weiss Ratings raised shares of Ligand Pharmaceuticals from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, September 21st. Leerink Partners initiated coverage on shares of Ligand Pharmaceuticals in a research report on Friday, August 14th. They set an "outperform" rating and a $330.00 price target for the company. Finally, HC Wainwright restated a "buy" rating and set a $358.00 price target on shares of Ligand Pharmaceuticals in a research report on Thursday, September 24th. Ten equities research analysts have rated the stock with a Buy rating. According to MarketBeat.com, Ligand Pharmaceuticals presently has a consensus rating of "Buy" and an average target price of $337.89.

Ligand Pharmaceuticals Stock Up 2.7%

Ligand Pharmaceuticals stock opened at $314.78 on Thursday. The firm has a 50 day moving average price of $293.12 and a 200-day moving average price of $271.15. The company has a quick ratio of 30.96, a current ratio of 31.18 and a debt-to-equity ratio of 1.16. Ligand Pharmaceuticals Incorporated has a twelve month low of $175.89 and a twelve month high of $326.63. The company has a market capitalization of $6.28 billion, a P/E ratio of 33.67, a P/E/G ratio of 2.45 and a beta of 1.14.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported $2.37 EPS for the quarter, topping 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 for the quarter, compared to analysts' expectations of $61.30 million. During the same quarter in the previous year, the firm posted $1.60 EPS. Ligand Pharmaceuticals's 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. As a group, equities analysts predict that Ligand Pharmaceuticals Incorporated will post 5.25 EPS for the current year.

About Ligand Pharmaceuticals

Ligand Pharmaceuticals Incorporated NASDAQ: LGND is a biopharmaceutical company that develops, acquires and licenses technologies intended to improve the development and commercialization of medicines. Rather than operating primarily as a traditional drug manufacturer, Ligand generally works with pharmaceutical and biotechnology partners, receiving licensing payments, royalties and other consideration tied to partnered products.

The company's principal technology is Captisol, a modified cyclodextrin designed to improve the solubility, stability and delivery of certain active pharmaceutical ingredients.

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