Woodstock Corp Sells 9,472 Shares of Ligand Pharmaceuticals Incorporated $LGND

Woodstock Corp lessened its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 32.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,025 shares of the biotechnology company’s stock after selling 9,472 shares during the quarter. Woodstock Corp owned 0.10% of Ligand Pharmaceuticals worth $3,547,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Jacobs Levy Equity Management Inc. acquired a new position in Ligand Pharmaceuticals during the 1st quarter valued at about $16,526,000. Ranger Investment Management L.P. raised its position in Ligand Pharmaceuticals by 57.8% in the 2nd quarter. Ranger Investment Management L.P. now owns 300,025 shares of the biotechnology company’s stock valued at $34,107,000 after buying an additional 109,935 shares during the last quarter. Nuveen LLC bought a new position in Ligand Pharmaceuticals during the 1st quarter valued at $4,657,000. Invesco Ltd. grew its stake in shares of Ligand Pharmaceuticals by 13.3% in the 2nd quarter. Invesco Ltd. now owns 229,858 shares of the biotechnology company’s stock worth $26,130,000 after acquiring an additional 27,030 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 5.2% in the second quarter. Geode Capital Management LLC now owns 488,778 shares of the biotechnology company’s stock valued at $55,571,000 after purchasing an additional 24,326 shares during the last quarter. 91.28% of the stock is owned by institutional investors.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 10,000 shares of the stock in a transaction 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 sale, the director owned 69,289 shares in the company, valued at $11,835,254.09. This represents a 12.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John W. Kozarich sold 467 shares of Ligand Pharmaceuticals stock in a transaction on 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 transaction, the director owned 44,121 shares of the company’s stock, valued at approximately $8,640,656.64. This trade represents a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 13,205 shares of company stock worth $2,312,287. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on LGND. Oppenheimer boosted their price target on shares of Ligand Pharmaceuticals from $190.00 to $250.00 and gave the stock an “outperform” rating in a report on Monday, November 3rd. Citigroup initiated coverage on Ligand Pharmaceuticals in a report on Tuesday, December 9th. They issued a “buy” rating and a $270.00 target price for the company. HC Wainwright increased their price target on Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Stifel Nicolaus boosted their price objective on Ligand Pharmaceuticals from $220.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Finally, Royal Bank Of Canada upped their price objective on Ligand Pharmaceuticals from $234.00 to $235.00 and gave the company an “outperform” rating in a research note on Wednesday, December 10th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.33.

Ligand Pharmaceuticals Trading Down 0.1%

NASDAQ:LGND opened at $192.63 on Wednesday. Ligand Pharmaceuticals Incorporated has a 12 month low of $93.58 and a 12 month high of $212.49. The company has a current ratio of 24.69, a quick ratio of 24.30 and a debt-to-equity ratio of 0.47. The firm’s 50 day moving average is $192.83 and its 200 day moving average is $159.75. The stock has a market capitalization of $3.79 billion, a PE ratio of 93.06 and a beta of 0.99.

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

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.