Ligand Pharmaceuticals Incorporated $LGND is Villere ST Denis J & Co. LLC's 2nd Largest Position

Key Points

• Villere ST Denis J & Co. LLC trimmed its Ligand Pharmaceuticals stake by 6.7% in Q1, but LGND still represents its 2nd-largest holding and 4.2% of the portfolio. The firm owned 188,874 shares valued at about $37.7 million.
• Ligand Pharmaceuticals reported mixed quarterly results, with EPS of $1.63 missing estimates of $1.84 and revenue of $51.72 million below forecasts. Revenue still rose 14.1% year over year, and analysts expect full-year EPS of 4.56.
• Insiders sold shares recently, including directors John L. Lamattina and Jason Aryeh, while Wall Street remains positive overall. The stock has a Moderate Buy consensus with a price target of $292.86, and several firms recently raised their targets.

Villere ST Denis J & Co. LLC cut its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,874 shares of the biotechnology company's stock after selling 13,578 shares during the period. Ligand Pharmaceuticals accounts for 4.2% of Villere ST Denis J & Co. LLC's portfolio, making the stock its 2nd largest holding. Villere ST Denis J & Co. LLC owned 0.94% of Ligand Pharmaceuticals worth $37,709,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. CIBC Private Wealth Group LLC increased its stake in shares of Ligand Pharmaceuticals by 86.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company's stock worth $26,000 after purchasing an additional 69 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Ligand Pharmaceuticals in the fourth quarter worth about $31,000. USA Financial Formulas bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth about $43,000. JPL Wealth Management LLC purchased a new position in shares of Ligand Pharmaceuticals during the 3rd quarter valued at about $52,000. Finally, IFP Advisors Inc grew its stake in shares of Ligand Pharmaceuticals by 1,040.0% during the 4th quarter. IFP Advisors Inc now owns 342 shares of the biotechnology company's stock valued at $65,000 after acquiring an additional 312 shares during the period. Hedge funds and other institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Price Performance

LGND stock traded down $6.37 during midday trading on Friday, hitting $316.24. The company's stock had a trading volume of 148,573 shares, compared to its average volume of 559,107. The company has a quick ratio of 20.95, a current ratio of 21.28 and a debt-to-equity ratio of 0.45. Ligand Pharmaceuticals Incorporated has a 12 month low of $120.68 and a 12 month high of $326.63. The company has a 50 day moving average of $256.11 and a two-hundred day moving average of $220.95. The firm has a market capitalization of $6.34 billion, a price-to-earnings ratio of 42.91, a price-to-earnings-growth ratio of 3.36 and a beta of 1.10.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.21). Ligand Pharmaceuticals had a net margin of 55.95% and a return on equity of 16.19%. The company had revenue of $51.72 million for the quarter, compared to the consensus estimate of $59.10 million. During the same quarter in the previous year, the business earned $1.33 EPS. The company's quarterly revenue was up 14.1% on a year-over-year basis. On average, analysts expect that Ligand Pharmaceuticals Incorporated will post 4.56 EPS for the current year.

Insider Buying and Selling

In other news, Director John L. Lamattina sold 4,591 shares of Ligand Pharmaceuticals 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 sale, the director directly owned 26,969 shares of the company's stock, valued at approximately $6,765,982.72. The trade was a 14.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jason Aryeh sold 4,500 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $250.00, for a total value of $1,125,000.00. Following the completion of the sale, the director owned 102,580 shares in the company, valued at $25,645,000. This represents a 4.20% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 35,698 shares of company stock worth $9,019,252 in the last 90 days. 7.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Royal Bank Of Canada raised their target price on shares of Ligand Pharmaceuticals from $252.00 to $262.00 and gave the stock an "outperform" rating in a research note on Friday, May 8th. Stifel Nicolaus upped their price target on shares of Ligand Pharmaceuticals from $255.00 to $332.00 and gave the stock a "buy" rating in a research report on Wednesday. HC Wainwright increased their price objective on shares of Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a "buy" rating in a research note on Thursday, April 30th. Citigroup raised their price objective on shares of Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a "buy" rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings downgraded shares of Ligand Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 15th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $292.86.

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.

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