Ligand Pharmaceuticals Incorporated $LGND Shares Acquired by Caxton Associates LLP

Key Points

• Caxton Associates LLP increased its stake in Ligand Pharmaceuticals by 28.6% in the first quarter, buying 4,143 more shares and bringing its holdings to 18,651 shares worth about $3.7 million.
• Ligand Pharmaceuticals recently reported Q1 earnings of $1.63 per share on revenue of $51.72 million, both below analyst expectations, even though revenue still rose 14.1% year over year.
• Despite mixed earnings, analysts remain mostly bullish: several firms raised price targets, and the stock carries a Moderate Buy consensus with an average target price of $319.

Caxton Associates LLP increased its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 28.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,651 shares of the biotechnology company's stock after purchasing an additional 4,143 shares during the quarter. Caxton Associates LLP owned 0.09% of Ligand Pharmaceuticals worth $3,724,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Maryland State Retirement & Pension System increased its stake in Ligand Pharmaceuticals by 2.2% during the 4th quarter. Maryland State Retirement & Pension System now owns 2,872 shares of the biotechnology company's stock worth $543,000 after buying an additional 61 shares during the period. CIBC Private Wealth Group LLC boosted its position in Ligand Pharmaceuticals by 86.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company's stock valued at $26,000 after buying an additional 69 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Ligand Pharmaceuticals by 3.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,688 shares of the biotechnology company's stock valued at $527,000 after buying an additional 78 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Ligand Pharmaceuticals by 5.4% during the fourth quarter. Cerity Partners LLC now owns 1,531 shares of the biotechnology company's stock valued at $289,000 after acquiring an additional 79 shares in the last quarter. Finally, 1492 Capital Management LLC grew its stake in shares of Ligand Pharmaceuticals by 4.4% during the first quarter. 1492 Capital Management LLC now owns 1,958 shares of the biotechnology company's stock valued at $391,000 after acquiring an additional 82 shares in the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Price Performance

LGND opened at $302.15 on Friday. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 41.00, a price-to-earnings-growth ratio of 3.01 and a beta of 1.10. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $129.55 and a fifty-two week high of $326.63. The company's 50-day moving average price is $270.18 and its 200 day moving average price is $227.95. 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 (NASDAQ:LGND - Get Free Report) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $1.63 EPS for the quarter, missing analysts' consensus estimates of $1.84 by ($0.21). The company had revenue of $51.72 million during the quarter, compared to analyst estimates of $59.10 million. Ligand Pharmaceuticals had a net margin of 55.95% and a return on equity of 16.19%. The business's revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.33 earnings per share. As a group, sell-side analysts expect that Ligand Pharmaceuticals Incorporated will post 4.56 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on LGND shares. Royal Bank Of Canada boosted their price target on Ligand Pharmaceuticals from $262.00 to $340.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 15th. Weiss Ratings lowered Ligand Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, May 15th. HC Wainwright lifted their price objective on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Stifel Nicolaus upped their target price on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Finally, Bank of America upped their target price on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the company a "buy" rating in a research report on Thursday, July 9th. Seven equities research 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 stock has an average rating of "Moderate Buy" and an average target price of $319.00.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Jason Haas sold 6,461 shares of the stock in a transaction on Friday, June 12th. The stock was sold at an average price of $255.58, for a total value of $1,651,302.38. Following the sale, the director directly owned 4,981 shares of the company's stock, valued at $1,273,043.98. This trade represents a 56.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stephen L. Sabba sold 2,145 shares of the firm's stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $254.00, for a total value of $544,830.00. Following the completion of the sale, the director owned 33,629 shares in the company, valued at $8,541,766. The trade was a 6.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 35,698 shares of company stock worth $9,019,252. 5.60% of the stock is owned by company insiders.

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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