Massachusetts Financial Services Co. MA Buys 202,103 Shares of Ligand Pharmaceuticals Incorporated $LGND

Massachusetts Financial Services Co. MA lifted its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 59.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 541,845 shares of the biotechnology company’s stock after buying an additional 202,103 shares during the quarter. Massachusetts Financial Services Co. MA owned about 2.76% of Ligand Pharmaceuticals worth $95,982,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of LGND. Evergreen Capital Management LLC raised its stake in Ligand Pharmaceuticals by 27.7% during the third quarter. Evergreen Capital Management LLC now owns 2,298 shares of the biotechnology company’s stock worth $407,000 after acquiring an additional 499 shares in the last quarter. Richardson Financial Services Inc. raised its holdings in shares of Ligand Pharmaceuticals by 85.8% during the third quarter. Richardson Financial Services Inc. now owns 210 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 97 shares during the period. Stephens Inc. AR bought a new position in shares of Ligand Pharmaceuticals in the 3rd quarter worth $294,000. Nordea Investment Management AB lifted its position in Ligand Pharmaceuticals by 4.0% in the 3rd quarter. Nordea Investment Management AB now owns 61,001 shares of the biotechnology company’s stock valued at $10,682,000 after acquiring an additional 2,341 shares in the last quarter. Finally, First Horizon Corp bought a new position in Ligand Pharmaceuticals during the 3rd quarter valued at $47,000. 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 John W. Kozarich sold 467 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $189.58, for a total transaction of $88,533.86. Following the sale, the director owned 43,654 shares in the company, valued at approximately $8,275,925.32. This trade represents a 1.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Octavio Espinoza sold 1,804 shares of Ligand Pharmaceuticals stock in a transaction on Friday, December 12th. The shares were sold at an average price of $188.31, for a total transaction of $339,711.24. Following the transaction, the chief financial officer owned 26,186 shares in the company, valued at approximately $4,931,085.66. This trade represents a 6.45% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 3,205 shares of company stock worth $608,923. 7.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on LGND shares. Stifel Nicolaus increased their price target on shares of Ligand Pharmaceuticals from $220.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Benchmark lifted their price target on Ligand Pharmaceuticals from $175.00 to $220.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. HC Wainwright increased their target price on Ligand Pharmaceuticals from $206.00 to $231.00 and gave the company a “buy” rating in a report on Thursday, November 6th. Citigroup initiated coverage on Ligand Pharmaceuticals in a research report on Tuesday, December 9th. They issued a “buy” rating and a $270.00 price objective on the stock. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Ligand Pharmaceuticals in a research report on Monday, December 29th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $239.33.

Ligand Pharmaceuticals Stock Up 1.9%

LGND opened at $196.56 on Wednesday. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 94.96 and a beta of 0.97. The firm has a 50 day moving average price of $196.31 and a 200-day moving average price of $174.51. Ligand Pharmaceuticals Incorporated has a twelve month low of $93.58 and a twelve month high of $212.49. The company has a quick ratio of 24.30, a current ratio of 24.69 and a debt-to-equity ratio of 0.47.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued 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. The company had revenue of $86.89 million for the quarter, compared to analysts’ expectations of $58.71 million. Ligand Pharmaceuticals had a net margin of 19.34% and a return on equity of 5.71%. The firm’s quarterly revenue was up 123.0% on a year-over-year basis. During the same quarter last year, the company posted $1.84 earnings per share. Ligand Pharmaceuticals has set its FY 2025 guidance at 7.400-7.650 EPS. Equities research analysts forecast that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current year.

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.