Ligand Pharmaceuticals Incorporated $LGND Stock Holdings Raised by Ranger Investment Management L.P.

Ranger Investment Management L.P. raised its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 57.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 300,025 shares of the biotechnology company’s stock after purchasing an additional 109,935 shares during the quarter. Ligand Pharmaceuticals accounts for about 2.4% of Ranger Investment Management L.P.’s portfolio, making the stock its 9th largest position. Ranger Investment Management L.P. owned about 1.53% of Ligand Pharmaceuticals worth $34,107,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Maseco LLP bought a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at about $31,000. Simplex Trading LLC purchased a new stake in Ligand Pharmaceuticals during the second quarter valued at approximately $61,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ligand Pharmaceuticals by 14.1% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 745 shares of the biotechnology company’s stock valued at $85,000 after purchasing an additional 92 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Ligand Pharmaceuticals by 1,656.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,669 shares of the biotechnology company’s stock valued at $190,000 after purchasing an additional 1,574 shares during the last quarter. Finally, Evergreen Capital Management LLC purchased a new position in shares of Ligand Pharmaceuticals in the 2nd quarter worth approximately $205,000. 91.28% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LGND shares. Citigroup began coverage on Ligand Pharmaceuticals in a research report on Tuesday, December 9th. They issued a “buy” rating and a $270.00 price target for the company. Stifel Nicolaus raised their target price on shares of Ligand Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday. Benchmark upped their price target on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the company a “buy” rating in a report on Friday, November 7th. Royal Bank Of Canada increased their price objective on shares of Ligand Pharmaceuticals from $234.00 to $235.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a research report on Monday, December 8th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $228.00.

Insider Activity

In other news, Director John W. Kozarich sold 467 shares of the business’s stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $195.84, for a total value of $91,457.28. Following the completion of the sale, the director owned 44,121 shares in the company, valued at approximately $8,640,656.64. The trade was a 1.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jason Aryeh sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $170.81, for a total transaction of $1,708,100.00. Following the completion of the sale, the director directly owned 69,289 shares of the company’s stock, valued at $11,835,254.09. The trade was a 12.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 11,401 shares of company stock valued at $1,972,576 over the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

Ligand Pharmaceuticals Trading Up 3.5%

LGND stock opened at $189.55 on Friday. Ligand Pharmaceuticals Incorporated has a 12 month low of $93.58 and a 12 month high of $212.49. The firm’s 50-day moving average is $192.43 and its 200 day moving average is $158.06. The company has a market capitalization of $3.73 billion, a PE ratio of 91.57 and a beta of 0.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 24.69 and a quick ratio of 24.30.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, November 6th. The biotechnology company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $1.96 by $1.13. Ligand Pharmaceuticals had a net margin of 19.34% and a return on equity of 5.71%. The business had revenue of $86.89 million for the quarter, compared to the consensus estimate of $58.71 million. During the same period in the prior year, the firm earned $1.84 EPS. The company’s revenue for the quarter was up 123.0% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. On average, research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current year.

About Ligand Pharmaceuticals

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.