CW Advisors LLC Buys 1,979 Shares of Ligand Pharmaceuticals Incorporated $LGND

Key Points

• CW Advisors LLC increased its ownership in Ligand Pharmaceuticals by 2.1%, owning 96,314 shares valued at approximately $10.1 million.
• The company's quarterly earnings showed a profit of $1.60 per share, surpassing estimates, with revenue reaching $47.63 million—up 14.7% year-over-year.
• Oppenheimer and Royal Bank of Canada both raised their price targets for Ligand Pharmaceuticals, reflecting a positive outlook with an average rating of "Buy" from analysts.

CW Advisors LLC lifted its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 2.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,314 shares of the biotechnology company's stock after buying an additional 1,979 shares during the quarter. CW Advisors LLC owned approximately 0.50% of Ligand Pharmaceuticals worth $10,126,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its holdings in shares of Ligand Pharmaceuticals by 29.7% during the 4th quarter. Wells Fargo & Company MN now owns 11,220 shares of the biotechnology company's stock worth $1,202,000 after purchasing an additional 2,570 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Ligand Pharmaceuticals in the 4th quarter valued at approximately $2,339,000. Sterling Capital Management LLC raised its position in shares of Ligand Pharmaceuticals by 825.4% in the 4th quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock valued at $59,000 after purchasing an additional 487 shares in the last quarter. Mariner LLC acquired a new stake in shares of Ligand Pharmaceuticals during the 4th quarter valued at approximately $276,000. Finally, XTX Topco Ltd bought a new position in Ligand Pharmaceuticals during the 4th quarter worth $329,000. Hedge funds and other institutional investors own 91.28% of the company's stock.

Insiders Place Their Bets

In other news, insider Andrew Reardon sold 500 shares of the business'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 of the company's stock, valued at $3,639,494.24. The trade was a 1.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John W. Kozarich sold 467 shares of the business's stock in a transaction dated Friday, August 1st. The shares were sold at an average price of $131.88, for a total value of $61,587.96. Following the completion of the transaction, the director directly owned 45,989 shares in the company, valued at $6,065,029.32. This represents a 1.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,401 shares of company stock worth $292,648. Company insiders own 7.00% of the company's stock.

Analyst Upgrades and Downgrades

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

Ligand Pharmaceuticals Stock Performance

Shares of NASDAQ:LGND traded up $1.31 during trading on Wednesday, hitting $161.07. 38,923 shares of the stock were exchanged, compared to its average volume of 147,297. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of -40.27 and a beta of 0.85. The company's fifty day simple moving average is $133.16 and its 200-day simple moving average is $116.94. Ligand Pharmaceuticals Incorporated has a 1-year low of $93.58 and a 1-year high of $161.93.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released 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. 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 during the quarter, compared to the consensus estimate of $43.87 million. During the same quarter in the previous year, the company posted $1.40 earnings per share. The firm's quarterly revenue was up 14.7% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2025 guidance at 6.700-7.000 EPS. On average, research analysts forecast that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current fiscal year.

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.