Gibbs Wealth Management Buys 2,215 Shares of Ligand Pharmaceuticals Incorporated $LGND

Gibbs Wealth Management lifted its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 66.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,563 shares of the biotechnology company’s stock after purchasing an additional 2,215 shares during the period. Gibbs Wealth Management’s holdings in Ligand Pharmaceuticals were worth $1,111,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its stake in shares of Ligand Pharmaceuticals by 86.3% during the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after purchasing an additional 69 shares during the last quarter. Kestra Advisory Services LLC bought a new position in Ligand Pharmaceuticals in the 4th quarter worth approximately $31,000. USA Financial Formulas bought a new position in Ligand Pharmaceuticals in the 4th quarter worth approximately $43,000. JPL Wealth Management LLC acquired a new position in Ligand Pharmaceuticals during the 3rd quarter worth $52,000. Finally, IFP Advisors Inc lifted its holdings in Ligand Pharmaceuticals by 1,040.0% during the 4th quarter. IFP Advisors Inc now owns 342 shares of the biotechnology company’s stock worth $65,000 after buying an additional 312 shares in the last quarter. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Jason Haas sold 6,461 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $255.58, for a total transaction of $1,651,302.38. Following the transaction, the director owned 4,981 shares in the company, valued at approximately $1,273,043.98. This trade represents a 56.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jason Aryeh sold 4,500 shares of the business’s stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $250.00, for a total value of $1,125,000.00. Following the transaction, the director owned 102,580 shares of the company’s stock, valued at $25,645,000. The trade was a 4.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 35,698 shares of company stock valued at $9,019,252. Corporate insiders own 5.60% of the company’s stock.

Ligand Pharmaceuticals Price Performance

Shares of LGND stock opened at $300.53 on Friday. Ligand Pharmaceuticals Incorporated has a 52-week low of $129.55 and a 52-week high of $326.63. The stock has a market cap of $6.02 billion, a PE ratio of 40.78, a PEG ratio of 2.99 and a beta of 1.10. 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 50 day moving average price is $271.93 and its two-hundred day moving average price is $228.46.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, May 7th. The biotechnology company reported $1.63 EPS for the quarter, missing the consensus estimate 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 net margin of 55.95% and a return on equity of 16.19%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.33 EPS. As a group, analysts forecast that Ligand Pharmaceuticals Incorporated will post 4.56 EPS for the current year.

Analyst Upgrades and Downgrades

LGND has been the topic of a number of recent research reports. HC Wainwright increased their price objective on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Bank of America boosted their target price on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Weiss Ratings cut Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 15th. Stifel Nicolaus raised their price target on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Finally, Royal Bank Of Canada lifted their price objective on Ligand Pharmaceuticals from $262.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 15th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $319.00.

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.