Kings Path Partners LLC Increases Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Kings Path Partners LLC increased its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 20.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,260 shares of the biotechnology company’s stock after purchasing an additional 1,380 shares during the period. Kings Path Partners LLC’s holdings in Ligand Pharmaceuticals were worth $827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Headlands Technologies LLC lifted 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 in the last quarter. Arizona State Retirement System lifted 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 in the last quarter. Texas Permanent School Fund Corp lifted its holdings in Ligand Pharmaceuticals by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 14,344 shares of the biotechnology company’s stock worth $1,049,000 after buying an additional 185 shares in the last quarter. Swiss National Bank lifted its holdings in Ligand Pharmaceuticals by 0.6% in the 1st quarter. Swiss National Bank now owns 32,700 shares of the biotechnology company’s stock worth $2,390,000 after buying an additional 200 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC lifted its holdings in Ligand Pharmaceuticals by 1.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 17,112 shares of the biotechnology company’s stock worth $1,442,000 after buying an additional 271 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Up 2.6 %

LGND opened at $102.94 on Friday. The firm has a market cap of $1.85 billion, a price-to-earnings ratio of 19.91 and a beta of 1.00. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $49.24 and a fifty-two week high of $112.13. The company’s 50-day moving average price is $102.25 and its 200 day moving average price is $90.55.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.34. The firm had revenue of $41.50 million for the quarter, compared to analyst estimates of $33.04 million. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. Ligand Pharmaceuticals’s quarterly revenue was up 57.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.10 earnings per share. Research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.73 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Oppenheimer initiated coverage on shares of Ligand Pharmaceuticals in a report on Thursday, October 3rd. They issued an “outperform” rating and a $135.00 price objective on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 target price on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 7th. Benchmark upped their target price on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 12th. HC Wainwright restated a “buy” rating and issued a $144.00 target price on shares of Ligand Pharmaceuticals in a research note on Thursday, August 8th. Finally, Craig Hallum upped their target price on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $131.80.

Insiders Place Their Bets

In other Ligand Pharmaceuticals 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 value of $159,585.00. Following the completion of the transaction, the insider now owns 22,534 shares in the company, valued at approximately $2,397,392.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Todd C. Davis bought 2,500 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was purchased at an average price of $97.39 per share, for a total transaction of $243,475.00. Following the transaction, the chief executive officer now owns 123,010 shares in the company, valued at approximately $11,979,943.90. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andrew Reardon sold 1,500 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 22,534 shares of the company’s stock, valued at $2,397,392.26. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,613 shares of company stock worth $5,255,692. Insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals 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.