Aberdeen Group plc Boosts Stock Position in Ligand Pharmaceuticals Incorporated $LGND

Key Points

• Aberdeen Group plc increased its holdings in Ligand Pharmaceuticals by 22.3%, becoming a significant shareholder with approximately 1.12% ownership valued at $22.7 million.
• Insider sales included Andrew Reardon selling 500 shares for $114.08 each, reducing his ownership by 1.54%, while other directors also sold shares, highlighting a 1.97% decrease in ownership for director John W. Kozarich.
• Ligand Pharmaceuticals aims for a fiscal year 2025 earnings per share (EPS) guidance of $6.70 to $7.00, with current analyst ratings indicating a consensus of "Buy" and an average price target of $157.00.

Aberdeen Group plc grew its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 22.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 216,241 shares of the biotechnology company's stock after buying an additional 39,481 shares during the period. Aberdeen Group plc owned 1.12% of Ligand Pharmaceuticals worth $22,736,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of Ligand Pharmaceuticals by 3.3% during the 1st quarter. Principal Financial Group Inc. now owns 102,874 shares of the biotechnology company's stock valued at $10,816,000 after buying an additional 3,284 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Ligand Pharmaceuticals by 68.5% during the 1st quarter. GAMMA Investing LLC now owns 593 shares of the biotechnology company's stock valued at $62,000 after buying an additional 241 shares during the last quarter. Handelsbanken Fonder AB lifted its position in shares of Ligand Pharmaceuticals by 13.7% during the 1st quarter. Handelsbanken Fonder AB now owns 6,658 shares of the biotechnology company's stock valued at $700,000 after buying an additional 800 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Ligand Pharmaceuticals by 323.6% during the 1st quarter. SG Americas Securities LLC now owns 6,808 shares of the biotechnology company's stock valued at $716,000 after buying an additional 5,201 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new position in shares of Ligand Pharmaceuticals during the 4th quarter valued at $1,800,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 500 shares of the company's stock in a transaction dated Monday, June 23rd. The stock was sold at an average price of $114.08, for a total value of $57,040.00. Following the transaction, the insider directly owned 31,903 shares in the company, valued at $3,639,494.24. This represents a 1.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John W. Kozarich sold 934 shares of the company's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $125.00, for a total value of $116,750.00. Following the completion of the transaction, the director owned 46,456 shares in the company, valued at $5,807,000. This represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,401 shares of company stock worth $292,648 over the last 90 days. Corporate insiders own 7.00% of the company's stock.

Ligand Pharmaceuticals Price Performance

NASDAQ LGND traded up $1.77 during trading on Friday, reaching $159.08. The company's stock had a trading volume of 234,074 shares, compared to its average volume of 310,662. The stock has a market capitalization of $3.12 billion, a PE ratio of -39.77 and a beta of 0.85. The firm has a fifty day moving average of $131.34 and a 200 day moving average of $116.35. Ligand Pharmaceuticals Incorporated has a one year low of $93.58 and a one year high of $161.93.

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Royal Bank Of Canada boosted 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. Wall Street Zen upgraded Ligand Pharmaceuticals from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Oppenheimer boosted 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, According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $157.00.

Ligand Pharmaceuticals 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.