SG Americas Securities LLC Sells 9,401 Shares of Ligand Pharmaceuticals Incorporated $LGND

Key Points

• SG Americas Securities LLC sharply reduced its Ligand Pharmaceuticals stake by 86.9% in the first quarter, selling 9,401 shares and leaving it with 1,416 shares valued at about $283,000.
• Insider selling has also been notable, with directors John L. Lamattina and Stephen L. Sabba selling shares in June; insiders sold 35,698 shares worth about $9.0 million over the last 90 days.
• Ligand Pharmaceuticals reported mixed quarterly results, missing EPS and revenue estimates, while analysts remain broadly bullish with seven Buy ratings and an average price target of $292.86, though the stock recently traded above that level at $316.24.

SG Americas Securities LLC lowered its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 86.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,416 shares of the biotechnology company's stock after selling 9,401 shares during the quarter. SG Americas Securities LLC's holdings in Ligand Pharmaceuticals were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in LGND. CIBC Private Wealth Group LLC increased its holdings in 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. Kestra Advisory Services LLC purchased a new position in Ligand Pharmaceuticals during the fourth quarter valued at approximately $31,000. USA Financial Formulas bought a new position in shares of Ligand Pharmaceuticals in the fourth quarter worth approximately $43,000. JPL Wealth Management LLC purchased a new stake in shares of Ligand Pharmaceuticals in the third quarter worth $52,000. Finally, Covestor Ltd increased its stake in shares of Ligand Pharmaceuticals by 17,050.0% in the fourth quarter. Covestor Ltd now owns 343 shares of the biotechnology company's stock worth $65,000 after purchasing an additional 341 shares in the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director John L. Lamattina sold 4,591 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $250.88, for a total transaction of $1,151,790.08. Following the completion of the transaction, the director owned 26,969 shares in the company, valued at $6,765,982.72. This trade represents a 14.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Stephen L. Sabba sold 2,145 shares of Ligand Pharmaceuticals stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $254.00, for a total value of $544,830.00. Following the completion of the sale, the director directly owned 33,629 shares in the company, valued at approximately $8,541,766. The trade was a 6.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 35,698 shares of company stock valued at $9,019,252 in the last 90 days. 7.00% of the stock is currently owned by insiders.

Ligand Pharmaceuticals Stock Performance

Shares of NASDAQ LGND opened at $316.24 on Friday. The company has a market cap of $6.34 billion, a P/E ratio of 42.91, a P/E/G ratio of 3.36 and a beta of 1.10. Ligand Pharmaceuticals Incorporated has a 52-week low of $120.68 and a 52-week high of $326.63. The company has a debt-to-equity ratio of 0.45, a quick ratio of 20.95 and a current ratio of 21.28. The firm's fifty day moving average is $256.11 and its two-hundred day moving average is $220.95.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $1.63 EPS for the quarter, missing the consensus estimate of $1.84 by ($0.21). Ligand Pharmaceuticals had a net margin of 55.95% and a return on equity of 16.19%. The company had revenue of $51.72 million for the quarter, compared to the consensus estimate of $59.10 million. During the same period last year, the company earned $1.33 EPS. The firm's revenue for the quarter was up 14.1% on a year-over-year basis. As a group, analysts anticipate that Ligand Pharmaceuticals Incorporated will post 4.56 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on LGND. Royal Bank Of Canada upped their target price on shares of Ligand Pharmaceuticals from $252.00 to $262.00 and gave the stock an "outperform" rating in a report on Friday, May 8th. Bank of America raised their price target on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the company a "buy" rating in a report on Thursday. Citigroup upped their price objective on Ligand Pharmaceuticals from $276.00 to $282.00 and gave the stock a "buy" rating in a research note on Wednesday, April 15th. HC Wainwright increased their target price on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a "buy" rating in a research report on Thursday, April 30th. Finally, Stifel Nicolaus lifted their target price on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a "buy" rating in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.86.

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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