Lisanti Capital Growth LLC Has $8.27 Million Position in Ligand Pharmaceuticals Incorporated $LGND

Key Points

• Lisanti Capital Growth LLC increased its stake in Ligand Pharmaceuticals by 47.4% in the fourth quarter, ending with 43,742 shares valued at about $8.27 million. The position now ranks as the fund’s third-largest holding and represents roughly 2% of its portfolio.
• Ligand reported mixed quarterly results, posting $1.63 EPS versus expectations of $1.84 and revenue of $51.72 million versus the $59.10 million consensus. Revenue still rose 14.1% from a year earlier, and analysts expect full-year EPS of 5.46.
• Sentiment remains generally positive despite some insider selling, with seven analysts rating LGND a Buy and one a Hold. The stock currently carries a Moderate Buy consensus and an average price target of $257.71.

Lisanti Capital Growth LLC lifted its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 47.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 43,742 shares of the biotechnology company's stock after acquiring an additional 14,065 shares during the quarter. Ligand Pharmaceuticals makes up approximately 2.0% of Lisanti Capital Growth LLC's portfolio, making the stock its 3rd largest position. Lisanti Capital Growth LLC owned about 0.22% of Ligand Pharmaceuticals worth $8,270,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew 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 acquiring an additional 69 shares in the last quarter. USA Financial Formulas bought a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth $43,000. Smartleaf Asset Management LLC grew its stake in shares of Ligand Pharmaceuticals by 31.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company's stock worth $47,000 after acquiring an additional 65 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter worth $52,000. Finally, Covestor Ltd grew its stake in shares of Ligand Pharmaceuticals by 17,050.0% in the 4th quarter. Covestor Ltd now owns 343 shares of the biotechnology company's stock worth $65,000 after acquiring an additional 341 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Price Performance

Shares of NASDAQ:LGND opened at $229.33 on Friday. The company has a quick ratio of 20.95, a current ratio of 21.28 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $4.60 billion, a PE ratio of 31.12, a P/E/G ratio of 1.86 and a beta of 1.20. Ligand Pharmaceuticals Incorporated has a twelve month low of $98.89 and a twelve month high of $247.38. The company has a 50-day moving average price of $215.18 and a two-hundred day moving average price of $202.85.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its earnings results on Thursday, May 14th. The biotechnology company reported $1.63 earnings per share for the quarter, missing analysts' consensus estimates of $1.84 by ($0.21). The business had revenue of $51.72 million for the quarter, compared to the consensus estimate of $59.10 million. Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.Ligand Pharmaceuticals's revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.33 EPS. Equities analysts forecast that Ligand Pharmaceuticals Incorporated will post 5.46 EPS for the current year.

Insider Buying and Selling at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza sold 13,423 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $205.83, for a total value of $2,762,856.09. Following the completion of the transaction, the chief financial officer directly owned 21,662 shares in the company, valued at approximately $4,458,689.46. This trade represents a 38.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andrew Reardon sold 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $206.35, for a total transaction of $1,031,750.00. Following the completion of the transaction, the insider owned 36,869 shares of the company's stock, valued at $7,607,918.15. This trade represents a 11.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 37,949 shares of company stock worth $8,014,056 over the last ninety days. Company insiders own 7.00% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on LGND. Citigroup upped their target price on shares of Ligand Pharmaceuticals from $276.00 to $282.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. Bank of America started coverage on shares of Ligand Pharmaceuticals in a research report on Wednesday, March 11th. They set a "buy" rating and a $244.00 price target for the company. Weiss Ratings lowered shares of Ligand Pharmaceuticals from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, May 15th. Wall Street Zen lowered shares of Ligand Pharmaceuticals from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Finally, Oppenheimer increased their price target on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the company an "outperform" rating in a research report on Friday, February 27th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $257.71.

Ligand Pharmaceuticals 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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