Edgestream Partners L.P. Invests $428,000 in Ligand Pharmaceuticals Incorporated $LGND

Edgestream Partners L.P. acquired a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the second quarter, Holdings Channel reports. The firm acquired 3,765 shares of the biotechnology company’s stock, valued at approximately $428,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LGND. Maseco LLP bought a new position in shares of Ligand Pharmaceuticals in the second quarter valued at $31,000. Simplex Trading LLC purchased a new stake in shares of Ligand Pharmaceuticals in the 2nd quarter valued at approximately $61,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in 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 worth $85,000 after purchasing an additional 92 shares during the period. Cornerstone Investment Partners LLC purchased a new position in Ligand Pharmaceuticals during the 2nd quarter worth approximately $207,000. Finally, Advantage Alpha Capital Partners LP acquired a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at $207,000. 91.28% of the stock is currently owned by institutional investors.

Ligand Pharmaceuticals Price Performance

LGND opened at $184.87 on Monday. The stock has a fifty day moving average price of $191.70 and a 200 day moving average price of $155.51. The company has a current ratio of 24.69, a quick ratio of 24.30 and a debt-to-equity ratio of 0.47. Ligand Pharmaceuticals Incorporated has a 1 year low of $93.58 and a 1 year high of $212.49. The stock has a market cap of $3.64 billion, a price-to-earnings ratio of 89.31 and a beta of 0.99.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its earnings results on Thursday, November 6th. The biotechnology company reported $3.09 earnings per share for the quarter, topping the consensus estimate of $1.96 by $1.13. The company had revenue of $86.89 million for the quarter, compared to analyst estimates 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 was up 123.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.84 EPS. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. Analysts forecast that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 467 shares of the business’s stock in a transaction that occurred 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 sale, the director directly owned 44,121 shares of the company’s stock, valued at $8,640,656.64. The trade was a 1.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction, the director owned 69,289 shares in the company, valued at approximately $11,835,254.09. This trade represents a 12.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 11,401 shares of company stock worth $1,972,576 in the last 90 days. 7.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on LGND shares. Oppenheimer increased their target price on Ligand Pharmaceuticals from $190.00 to $250.00 and gave the company an “outperform” rating in a report on Monday, November 3rd. HC Wainwright increased their price objective on Ligand Pharmaceuticals from $206.00 to $231.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Royal Bank Of Canada lifted their target price on Ligand Pharmaceuticals from $185.00 to $234.00 and gave the company an “outperform” rating in a research note on Monday, November 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a report on Monday, December 1st. Finally, Benchmark increased their price target on shares of Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.