Federated Hermes Inc. lifted its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Free Report) by 85.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 51,228 shares of the biotechnology company’s stock after buying an additional 23,661 shares during the period. Federated Hermes Inc. owned approximately 0.30% of Ligand Pharmaceuticals worth $3,768,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Ligand Pharmaceuticals by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 1,793,414 shares of the biotechnology company’s stock valued at $154,432,000 after acquiring an additional 19,440 shares in the last quarter. Macquarie Group Ltd. raised its stake in Ligand Pharmaceuticals by 0.9% in the fourth quarter. Macquarie Group Ltd. now owns 800,596 shares of the biotechnology company’s stock valued at $53,480,000 after purchasing an additional 6,975 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Ligand Pharmaceuticals by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 457,923 shares of the biotechnology company’s stock worth $30,590,000 after purchasing an additional 8,805 shares during the period. Chicago Capital LLC grew its stake in Ligand Pharmaceuticals by 40.9% during the first quarter. Chicago Capital LLC now owns 449,508 shares of the biotechnology company’s stock worth $33,066,000 after buying an additional 130,454 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Ligand Pharmaceuticals by 3.6% in the 4th quarter. Geode Capital Management LLC now owns 300,670 shares of the biotechnology company’s stock valued at $20,084,000 after buying an additional 10,560 shares during the period. Institutional investors and hedge funds own 85.27% of the company’s stock.
Wall Street Analysts Forecast Growth
LGND has been the topic of several analyst reports. StockNews.com upgraded shares of Ligand Pharmaceuticals from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Barclays dropped their price objective on Ligand Pharmaceuticals from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Tuesday, July 25th. HC Wainwright reiterated a “buy” rating and issued a $144.00 target price on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 9th. Finally, TheStreet cut shares of Ligand Pharmaceuticals from a “b-” rating to a “c” rating in a report on Tuesday, August 8th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $109.75.
Ligand Pharmaceuticals Stock Up 0.7 %
NASDAQ LGND opened at $67.59 on Wednesday. Ligand Pharmaceuticals Incorporated has a twelve month low of $57.77 and a twelve month high of $108.25. The business’s fifty day moving average is $70.72 and its 200 day moving average is $72.45. The company has a market cap of $1.17 billion, a price-to-earnings ratio of 46.94, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04.
Ligand Pharmaceuticals (NASDAQ:LGND – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported $1.42 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.66. Ligand Pharmaceuticals had a return on equity of 6.82% and a net margin of 14.54%. The firm had revenue of $26.37 million for the quarter, compared to analyst estimates of $24.74 million. During the same period last year, the firm posted ($0.14) earnings per share. The business’s revenue for the quarter was down 47.4% on a year-over-year basis. On average, research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.72 earnings per share for the current fiscal year.
Ligand Pharmaceuticals Company Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; 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.
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