Aberdeen Group plc Acquires 39,481 Shares of 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 boosted its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 22.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 216,241 shares of the biotechnology company's stock after acquiring an additional 39,481 shares during the quarter. Aberdeen Group plc owned 1.12% of Ligand Pharmaceuticals worth $22,736,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Arizona State Retirement System grew its stake in Ligand Pharmaceuticals by 2.1% during the 1st quarter. Arizona State Retirement System now owns 5,407 shares of the biotechnology company's stock valued at $568,000 after acquiring an additional 110 shares in the last quarter. Portside Wealth Group LLC raised its position in Ligand Pharmaceuticals by 3.2% in the first quarter. Portside Wealth Group LLC now owns 3,575 shares of the biotechnology company's stock valued at $376,000 after purchasing an additional 112 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Ligand Pharmaceuticals by 4.9% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,516 shares of the biotechnology company's stock worth $265,000 after purchasing an additional 117 shares during the period. Summit Investment Advisors Inc. increased its position in shares of Ligand Pharmaceuticals by 9.4% during the fourth quarter. Summit Investment Advisors Inc. now owns 1,811 shares of the biotechnology company's stock valued at $194,000 after acquiring an additional 155 shares during the last quarter. Finally, Legal & General Group Plc raised its position in Ligand Pharmaceuticals by 0.4% in the fourth quarter. Legal & General Group Plc now owns 57,838 shares of the biotechnology company's stock valued at $6,197,000 after purchasing an additional 214 shares during the period. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LGND shares. Royal Bank Of Canada lifted their price target on Ligand Pharmaceuticals from $155.00 to $185.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Wall Street Zen upgraded Ligand Pharmaceuticals from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Finally, Oppenheimer increased their price target on shares of Ligand Pharmaceuticals from $145.00 to $162.00 and gave the stock 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, the company currently has an average rating of "Buy" and an average target price of $157.00.

Ligand Pharmaceuticals Price Performance

NASDAQ LGND traded up $0.9950 on Friday, hitting $158.3050. 186,171 shares of the stock were exchanged, compared to its average volume of 148,107. The company's 50-day moving average price is $130.41 and its two-hundred day moving average price is $116.07. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of -39.57 and a beta of 0.85. Ligand Pharmaceuticals Incorporated has a 52-week low of $93.58 and a 52-week high of $161.93.

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

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, insider Andrew Reardon sold 500 shares of the company's stock in a transaction 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 directly owned 31,903 shares of the company's stock, valued at approximately $3,639,494.24. This represents a 1.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John W. Kozarich sold 934 shares of Ligand Pharmaceuticals stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $125.00, for a total value of $116,750.00. Following the sale, the director directly owned 46,456 shares of the company's stock, valued at approximately $5,807,000. The trade was a 1.97% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,401 shares of company stock worth $292,648. 7.00% of the stock is currently owned by corporate 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.