Ligand Pharmaceuticals Incorporated $LGND Stock Holdings Increased by Invesco Ltd.

Key Points

• Invesco Ltd. has increased its holdings in Ligand Pharmaceuticals by 4.4%, bringing its total ownership to 202,828 shares valued at approximately $21.3 million as of the latest SEC filing.
• Ligand Pharmaceuticals reported earnings of $1.60 per share for the last quarter, exceeding analysts' expectations of $1.54, with revenue rising 14.7% year-over-year to $47.63 million.
• Several analysts have raised their price targets for Ligand Pharmaceuticals, with Royal Bank of Canada increasing theirs from $155 to $185 and maintaining an “outperform” rating.

Invesco Ltd. raised its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 4.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 202,828 shares of the biotechnology company's stock after purchasing an additional 8,473 shares during the quarter. Invesco Ltd. owned 1.05% of Ligand Pharmaceuticals worth $21,325,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of LGND. Driehaus Capital Management LLC grew its stake in shares of Ligand Pharmaceuticals by 70.0% in the fourth quarter. Driehaus Capital Management LLC now owns 162,771 shares of the biotechnology company's stock valued at $17,441,000 after buying an additional 67,033 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Ligand Pharmaceuticals by 17,612.5% in the first quarter. GAMMA Investing LLC now owns 62,348 shares of the biotechnology company's stock valued at $6,555,000 after buying an additional 61,996 shares in the last quarter. CenterBook Partners LP grew its stake in Ligand Pharmaceuticals by 190.2% during the 1st quarter. CenterBook Partners LP now owns 68,299 shares of the biotechnology company's stock valued at $7,181,000 after purchasing an additional 44,760 shares in the last quarter. Advisor Resource Council acquired a new stake in Ligand Pharmaceuticals during the 1st quarter valued at approximately $2,244,000. Finally, Raymond James Financial Inc. acquired a new stake in Ligand Pharmaceuticals during the 4th quarter valued at approximately $2,339,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Stock Up 0.6%

NASDAQ:LGND traded up $0.97 during trading hours on Tuesday, reaching $159.76. 102,134 shares of the stock were exchanged, compared to its average volume of 316,166. The firm has a 50 day simple moving average of $133.16 and a 200-day simple moving average of $116.94. Ligand Pharmaceuticals Incorporated has a 52 week low of $93.58 and a 52 week high of $161.93. The stock has a market capitalization of $3.13 billion, a P/E ratio of -39.94 and a beta of 0.85.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its earnings results on Thursday, August 7th. The biotechnology company reported $1.60 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.06. Ligand Pharmaceuticals had a negative return on equity of 9.21% and a negative net margin of 40.44%.The company had revenue of $47.63 million for the quarter, compared to the consensus estimate of $43.87 million. During the same quarter last year, the business posted $1.40 EPS. Ligand Pharmaceuticals's quarterly revenue was up 14.7% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2025 guidance at 6.700-7.000 EPS. As a group, analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current year.

Analyst Ratings Changes

LGND has been the subject of a number of recent analyst reports. Wall Street Zen upgraded Ligand Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Royal Bank Of Canada raised their price objective on Ligand Pharmaceuticals from $155.00 to $185.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Finally, Oppenheimer raised their price objective on Ligand Pharmaceuticals from $145.00 to $162.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Six equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $157.00.

Insider Buying and Selling

In related news, Director John W. Kozarich sold 934 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $125.00, for a total transaction of $116,750.00. Following the completion of the transaction, the director owned 46,456 shares in the company, valued at $5,807,000. The trade was a 1.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Andrew Reardon sold 500 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $114.08, for a total value of $57,040.00. Following the transaction, the insider owned 31,903 shares of the company's stock, valued at $3,639,494.24. This represents a 1.54% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,401 shares of company stock worth $292,648. 7.00% of the stock is currently owned by company insiders.

Ligand Pharmaceuticals Company 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.