Nuveen LLC Acquires New Shares in Ligand Pharmaceuticals Incorporated $LGND

Key Points

• Nuveen LLC has acquired a new stake in Ligand Pharmaceuticals, purchasing 44,296 shares valued at approximately $4.7 million.
• The stock currently has an average rating of "Buy" with a price target rising to $157.00, reflecting positive outlooks from several research firms.
• Ligand Pharmaceuticals reported earnings per share of $1.60, exceeding estimates, with revenue growth of 14.7% year-over-year for the most recent quarter.

Nuveen LLC acquired a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 44,296 shares of the biotechnology company's stock, valued at approximately $4,657,000. Nuveen LLC owned 0.23% of Ligand Pharmaceuticals at the end of the most recent quarter.

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

Ligand Pharmaceuticals Trading Up 1.1%

Shares of LGND stock traded up $1.75 during midday trading on Friday, reaching $161.71. 147,031 shares of the stock were exchanged, compared to its average volume of 310,350. Ligand Pharmaceuticals Incorporated has a 1 year low of $93.58 and a 1 year high of $163.34. The company's 50 day moving average is $135.91 and its two-hundred day moving average is $117.89. The firm has a market cap of $3.17 billion, a PE ratio of -40.43 and a beta of 0.85.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last posted 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 firm had revenue of $47.63 million for the quarter, compared to the consensus estimate of $43.87 million. During the same quarter in the prior year, the business earned $1.40 EPS. The business's revenue for the quarter was up 14.7% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2025 guidance at 6.700-7.000 EPS. As a group, equities analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Andrew Reardon sold 500 shares of the business's stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $114.08, for a total value of $57,040.00. Following the sale, 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 SEC, which is available through the SEC website. Also, Director John W. Kozarich sold 934 shares of the business's stock in a transaction that occurred on 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 sale, the director directly owned 46,456 shares in the company, valued at approximately $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 have sold a total of 2,401 shares of company stock worth $292,648 in the last quarter. Company insiders own 7.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on LGND shares. HC Wainwright lifted their price objective on Ligand Pharmaceuticals from $157.00 to $206.00 and gave the stock a "buy" rating in a report on Thursday. Oppenheimer boosted their price target on Ligand Pharmaceuticals from $145.00 to $162.00 and gave the company an "outperform" rating in a report on Wednesday, July 30th. Royal Bank Of Canada boosted their price target on Ligand Pharmaceuticals from $155.00 to $185.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Finally, Wall Street Zen upgraded Ligand Pharmaceuticals from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Six equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $165.17.

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.