Envestnet Asset Management Inc. Buys 769 Shares of Ligand Pharmaceuticals Incorporated $LGND

Envestnet Asset Management Inc. boosted its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 2.9% during the second quarter, Holdings Channel reports. The fund owned 27,377 shares of the biotechnology company’s stock after acquiring an additional 769 shares during the period. Envestnet Asset Management Inc.’s holdings in Ligand Pharmaceuticals were worth $3,112,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. purchased a new position in shares of Ligand Pharmaceuticals during the 1st quarter valued at about $16,526,000. Nuveen LLC purchased a new stake in Ligand Pharmaceuticals in the first quarter worth approximately $4,657,000. Russell Investments Group Ltd. grew its position in Ligand Pharmaceuticals by 41.6% during the first quarter. Russell Investments Group Ltd. now owns 135,365 shares of the biotechnology company’s stock valued at $14,232,000 after acquiring an additional 39,765 shares during the last quarter. Aberdeen Group plc raised its stake in shares of Ligand Pharmaceuticals by 22.3% during the first quarter. Aberdeen Group plc now owns 216,241 shares of the biotechnology company’s stock worth $22,736,000 after acquiring an additional 39,481 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Ligand Pharmaceuticals by 176.2% in the 1st quarter. Jane Street Group LLC now owns 36,922 shares of the biotechnology company’s stock worth $3,882,000 after acquiring an additional 23,553 shares during the last quarter. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Insider Buying and Selling

In related news, Director Jason Aryeh sold 10,000 shares of Ligand Pharmaceuticals stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $170.81, for a total value of $1,708,100.00. Following the sale, the director owned 69,289 shares in the company, valued at $11,835,254.09. The trade was 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 the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $191.05, for a total transaction of $89,220.35. Following the transaction, the director directly owned 44,588 shares in the company, valued at approximately $8,518,537.40. The trade was a 1.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 11,401 shares of company stock worth $1,956,894. Corporate insiders own 7.00% of the company’s stock.

Ligand Pharmaceuticals Trading Down 0.2%

Shares of NASDAQ:LGND opened at $200.86 on Friday. The company has a 50-day moving average price of $181.96 and a 200-day moving average price of $145.27. The company has a market cap of $3.95 billion, a price-to-earnings ratio of -50.22 and a beta of 0.91. Ligand Pharmaceuticals Incorporated has a 12 month low of $93.58 and a 12 month high of $212.49.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.96 by $1.13. Ligand Pharmaceuticals had a negative return on equity of 9.21% and a negative net margin of 40.44%.The company had revenue of $86.89 million for the quarter, compared to analysts’ expectations of $58.71 million. During the same period last year, the firm earned $1.84 earnings per share. Ligand Pharmaceuticals’s quarterly revenue was up 123.0% on a year-over-year basis. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. As a group, research analysts forecast that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on LGND shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Ligand Pharmaceuticals in a research note on Thursday. Wall Street Zen upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Benchmark lifted their price objective on Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Oppenheimer boosted their target price on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a research note on Monday, November 3rd. Finally, HC Wainwright raised their price target on Ligand Pharmaceuticals from $206.00 to $231.00 and gave the stock a “buy” rating in a research report on Thursday, November 6th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $206.33.

Ligand Pharmaceuticals Company 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.