Villere ST Denis J & Co. LLC Trims Stake in Ligand Pharmaceuticals Incorporated $LGND

Villere ST Denis J & Co. LLC decreased its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 6.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,874 shares of the biotechnology company’s stock after selling 13,578 shares during the quarter. Ligand Pharmaceuticals comprises about 4.2% of Villere ST Denis J & Co. LLC’s investment portfolio, making the stock its 2nd largest position. Villere ST Denis J & Co. LLC’s holdings in Ligand Pharmaceuticals were worth $37,709,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of LGND. Royal Bank of Canada increased its holdings in shares of Ligand Pharmaceuticals by 25.8% in the 1st quarter. Royal Bank of Canada now owns 6,120 shares of the biotechnology company’s stock worth $644,000 after buying an additional 1,256 shares during the last quarter. AQR Capital Management LLC purchased a new position in Ligand Pharmaceuticals in the first quarter worth about $344,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Ligand Pharmaceuticals by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,660 shares of the biotechnology company’s stock worth $1,121,000 after acquiring an additional 809 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Ligand Pharmaceuticals by 9.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 55,327 shares of the biotechnology company’s stock worth $5,817,000 after acquiring an additional 4,926 shares during the last quarter. Finally, Jane Street Group LLC raised its position in Ligand Pharmaceuticals by 176.2% during the first quarter. Jane Street Group LLC now owns 36,922 shares of the biotechnology company’s stock valued at $3,882,000 after purchasing an additional 23,553 shares during the period. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Trading Down 2.0%

Shares of NASDAQ:LGND traded down $6.37 during trading hours on Friday, hitting $316.24. 148,573 shares of the company’s stock traded hands, compared to its average volume of 559,107. Ligand Pharmaceuticals Incorporated has a 1 year low of $120.68 and a 1 year high of $326.63. The business has a fifty day moving average price of $256.11 and a 200-day moving average price of $220.95. The firm has a market capitalization of $6.34 billion, a P/E ratio of 42.91, a price-to-earnings-growth ratio of 3.36 and a beta of 1.10. The company has a debt-to-equity ratio of 0.45, a current ratio of 21.28 and a quick ratio of 20.95.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $1.63 earnings per share for the quarter, missing the consensus estimate of $1.84 by ($0.21). Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The business had revenue of $51.72 million during the quarter, compared to analysts’ expectations of $59.10 million. During the same quarter in the previous year, the company posted $1.33 earnings per share. The company’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts expect that Ligand Pharmaceuticals Incorporated will post 4.56 earnings per share for the current year.

Wall Street Analyst Weigh In

LGND has been the subject of several analyst reports. Stifel Nicolaus raised their price objective on Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings downgraded Ligand Pharmaceuticals from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 15th. Citigroup increased their price target on Ligand Pharmaceuticals from $276.00 to $282.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Bank of America raised their price target on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, HC Wainwright boosted their price objective on shares of Ligand Pharmaceuticals from $243.00 to $289.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, Ligand Pharmaceuticals currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.86.

Insider Buying and Selling

In other Ligand Pharmaceuticals news, Director Jason Aryeh sold 4,500 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $250.00, for a total value of $1,125,000.00. Following the sale, the director owned 102,580 shares in the company, valued at $25,645,000. This trade represents a 4.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John L. Lamattina sold 4,591 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $250.88, for a total value of $1,151,790.08. Following the sale, the director owned 26,969 shares of the company’s stock, valued at approximately $6,765,982.72. This trade represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 35,698 shares of company stock worth $9,019,252 over the last ninety days. Corporate insiders own 7.00% of the company’s stock.

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.