F M Investments LLC Decreases Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

F M Investments LLC cut its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 0.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 134,299 shares of the biotechnology company’s stock after selling 411 shares during the period. F M Investments LLC owned about 0.75% of Ligand Pharmaceuticals worth $13,442,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Woodstock Corp boosted its holdings in Ligand Pharmaceuticals by 0.3% in the 3rd quarter. Woodstock Corp now owns 29,211 shares of the biotechnology company’s stock worth $2,924,000 after buying an additional 100 shares during the period. Creative Planning boosted its holdings in Ligand Pharmaceuticals by 4.0% in the 3rd quarter. Creative Planning now owns 2,896 shares of the biotechnology company’s stock worth $290,000 after buying an additional 111 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Ligand Pharmaceuticals by 23.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock worth $64,000 after buying an additional 125 shares during the period. Headlands Technologies LLC boosted its holdings in Ligand Pharmaceuticals by 21.7% in the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after buying an additional 135 shares during the period. Finally, Arizona State Retirement System boosted its holdings in Ligand Pharmaceuticals by 3.4% in the 2nd quarter. Arizona State Retirement System now owns 4,708 shares of the biotechnology company’s stock worth $397,000 after buying an additional 156 shares during the period. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. HC Wainwright restated a “buy” rating and set a $157.00 target price on shares of Ligand Pharmaceuticals in a research report on Thursday. Royal Bank of Canada reissued an “outperform” rating and issued a $130.00 price objective on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. Oppenheimer initiated coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, October 3rd. They issued an “outperform” rating and a $135.00 price objective on the stock. Barclays increased their price objective on shares of Ligand Pharmaceuticals from $110.00 to $125.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Finally, Benchmark increased their price objective on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $132.83.

Ligand Pharmaceuticals Stock Performance

NASDAQ LGND traded up $4.34 on Friday, reaching $110.04. 121,354 shares of the company’s stock traded hands, compared to its average volume of 135,294. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 50.94 and a beta of 1.00. The stock has a 50 day moving average price of $104.26 and a 200-day moving average price of $93.50. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $51.21 and a fifty-two week high of $115.53.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.34. The business had revenue of $41.50 million during the quarter, compared to the consensus estimate of $33.04 million. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. The company’s revenue was up 57.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.10 earnings per share. As a group, equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.47 EPS for the current fiscal year.

Insider Activity at Ligand Pharmaceuticals

In related news, insider Andrew Reardon sold 1,500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $106.39, for a total transaction of $159,585.00. Following the completion of the sale, the insider now owns 22,534 shares of the company’s stock, valued at approximately $2,397,392.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ligand Pharmaceuticals news, insider Andrew Reardon sold 1,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $106.39, for a total value of $159,585.00. Following the completion of the sale, the insider now directly owns 22,534 shares in the company, valued at $2,397,392.26. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Todd C. Davis bought 2,500 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was bought at an average cost of $97.39 per share, with a total value of $243,475.00. Following the completion of the purchase, the chief executive officer now directly owns 123,010 shares in the company, valued at approximately $11,979,943.90. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 51,613 shares of company stock valued at $5,255,692. 5.90% of the stock is owned by insiders.

About Ligand Pharmaceuticals

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.