Future Fund LLC Purchases Shares of 9,280 Ligand Pharmaceuticals Incorporated $LGND

Key Points

• Future Fund LLC opened a new position in Ligand Pharmaceuticals, buying 9,280 shares valued at about $1.76 million in the fourth quarter.
• Institutional ownership remains very high, with 91.28% of Ligand’s shares held by hedge funds and other institutions. Several large investors increased their stakes during the quarter.
• Analyst sentiment is mostly positive: seven analysts rate LGND a Buy and one rates it Hold, with a consensus price target of $257.71. However, the company’s latest earnings missed estimates on both EPS and revenue.

Future Fund LLC purchased a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 9,280 shares of the biotechnology company's stock, valued at approximately $1,755,000.

A number of other large investors have also recently bought and sold shares of the business. Intech Investment Management LLC grew its holdings in Ligand Pharmaceuticals by 24.1% during the 4th quarter. Intech Investment Management LLC now owns 7,585 shares of the biotechnology company's stock worth $1,434,000 after acquiring an additional 1,473 shares during the period. Huntington National Bank grew its holdings in Ligand Pharmaceuticals by 17,425.0% during the 4th quarter. Huntington National Bank now owns 701 shares of the biotechnology company's stock worth $133,000 after acquiring an additional 697 shares during the period. Geode Capital Management LLC grew its holdings in Ligand Pharmaceuticals by 4.1% during the 4th quarter. Geode Capital Management LLC now owns 493,589 shares of the biotechnology company's stock worth $93,336,000 after acquiring an additional 19,400 shares during the period. Fisher Asset Management LLC grew its holdings in Ligand Pharmaceuticals by 20.1% during the 4th quarter. Fisher Asset Management LLC now owns 130,858 shares of the biotechnology company's stock worth $24,741,000 after acquiring an additional 21,932 shares during the period. Finally, Hantz Financial Services Inc. grew its holdings in Ligand Pharmaceuticals by 114.5% during the 4th quarter. Hantz Financial Services Inc. now owns 354 shares of the biotechnology company's stock worth $67,000 after acquiring an additional 189 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Ligand Pharmaceuticals

In other news, Director John W. Kozarich sold 1,575 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $223.50, for a total transaction of $352,012.50. Following the transaction, the director owned 41,786 shares of the company's stock, valued at $9,339,171. This represents a 3.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen L. Sabba sold 2,034 shares of the stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $201.50, for a total transaction of $409,851.00. Following the transaction, the director directly owned 33,793 shares in the company, valued at $6,809,289.50. This trade represents a 5.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 37,949 shares of company stock worth $8,014,056 over the last quarter. Company insiders own 7.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LGND shares. Bank of America started coverage on Ligand Pharmaceuticals in a report on Wednesday, March 11th. They set a "buy" rating and a $244.00 price target for the company. Oppenheimer increased their price target on Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an "outperform" rating in a report on Friday, February 27th. Citigroup increased their price target on Ligand Pharmaceuticals from $276.00 to $282.00 and gave the stock a "buy" rating in a report on Wednesday, April 15th. HC Wainwright increased their price target on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Finally, Weiss Ratings downgraded Ligand Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 15th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $257.71.

Ligand Pharmaceuticals Price Performance

LGND stock opened at $231.96 on Friday. The stock has a market capitalization of $4.65 billion, a PE ratio of 31.47, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20. The company's 50-day moving average is $217.67 and its 200-day moving average is $204.15. The company has a debt-to-equity ratio of 0.45, a current ratio of 21.28 and a quick ratio of 20.95. Ligand Pharmaceuticals Incorporated has a 1 year low of $98.89 and a 1 year high of $247.38.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its quarterly earnings data on Thursday, May 14th. The biotechnology company reported $1.63 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.84 by ($0.21). The company had revenue of $51.72 million for the quarter, compared to the consensus estimate of $59.10 million. Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.Ligand Pharmaceuticals's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period last year, the company earned $1.33 EPS. Equities research analysts expect that Ligand Pharmaceuticals Incorporated will post 4.47 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.

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