Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) shares bought by Dimensional Fund Advisors LP

VaselineSeptember 29, 2024

0 4 minutes read

Dimensional Fund Advisors LP boosted its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Free Report) by 6.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 708,624 shares of the biotechnology company’s stock after acquiring an additional 44,543 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Ligand Pharmaceuticals were worth $59,707,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of LGND. Vanguard Group Inc. raised its stake in Ligand Pharmaceuticals by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 1,876,514 shares of the biotechnology company’s stock worth $134,021,000 after buying an additional 24,653 shares during the period. SG Americas Securities LLC purchased a new position in shares of Ligand Pharmaceuticals in the 1st quarter worth about $809,000. Sei Investments Co. boosted its stake in Ligand Pharmaceuticals by 224.1% in the first quarter. Sei Investments Co. now owns 35,841 shares of the biotechnology company’s stock worth $2,620,000 after buying an additional 24,784 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Ligand Pharmaceuticals by 155.3% in the first quarter. Russell Investments Group Ltd. now owns 73,161 shares of the biotechnology company’s stock worth $5,348,000 after buying an additional 44,499 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Ligand Pharmaceuticals by 7.2% in the second quarter. William Blair Investment Management LLC now owns 202,842 shares of the biotechnology company’s stock worth $17,091,000 after buying an additional 13,595 shares during the period. 91.28% of shares are owned by institutional investors and hedge funds.

Insider Buying and Selling at Ligand Pharmaceuticals

In related news, CEO Todd C. Davis purchased 2,500 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average cost of $97.39 per share, for a total transaction of $243,475.00. Following the purchase, the chief executive officer now directly owns 123,010 shares in the company, valued at $11,979,943.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Matthew E. Korenberg sold 18,245 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $98.50, for a total transaction of $1,797,132.50. Following the completion of the transaction, the chief operating officer now directly owns 68,368 shares in the company, valued at approximately $6,734,248. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Also, CEO Todd C. Davis purchased 2,500 shares of the stock in a transaction dated Thursday, August 8th. The stock was purchased at an average price of $97.39 per share, with a total value of $243,475.00. Following the completion of the acquisition, the chief executive officer now owns 123,010 shares in the company, valued at approximately $11,979,943.90. Disclosure for this purchase can be found here. Insiders sold a total of 51,613 shares of company stock worth $5,255,692 over the last three months. 5.90% of shares are held by corporate insiders.

Ligand Pharmaceuticals Stock Performance

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Shares of LGND opened at $97.37 on Friday. Ligand Pharmaceuticals Incorporated has a one year low of $49.24 and a one year high of $112.13. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 18.83 and a beta of 1.01. The stock has a 50-day moving average price of $102.88 and a 200-day moving average price of $88.42.

Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report ) last posted its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.06 by $0.34. The firm had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $33.04 million. Ligand Pharmaceuticals had a return on equity of 7.91% and a net margin of 29.69%. The company’s revenue for the quarter was up 57.2% year over year. In the same period last year, the company earned $1.10 per share. On average, analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.54 earnings per share for the current year.

The Wall Street analyst weighs in

LGND has been the subject of several research analyst reports. Benchmark boosted their target price on Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Craig Hallum boosted their price target on Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $130.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and set a $144.00 target price on shares of Ligand Pharmaceuticals in a research report on Thursday, August 8th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.00.

Read our latest analysis of LGND

Ligand Pharmaceuticals Profile

(Free Report)

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 disease and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injectable product for osteoporosis; Vaxneuvance for the prevention of invasive diseases caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight pneumococcal pneumonia in children.