Villere ST Denis J & Co. LLC Lowers Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Villere ST Denis J & Co. LLC trimmed its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 1.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,858 shares of the biotechnology company's stock after selling 9,055 shares during the quarter. Ligand Pharmaceuticals accounts for about 3.9% of Villere ST Denis J & Co. LLC's portfolio, making the stock its 3rd largest position. Villere ST Denis J & Co. LLC owned 2.60% of Ligand Pharmaceuticals worth $47,529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LGND. Innealta Capital LLC acquired a new position in shares of Ligand Pharmaceuticals in the second quarter worth approximately $31,000. Rothschild Investment LLC acquired a new position in shares of Ligand Pharmaceuticals in the 2nd quarter worth approximately $34,000. Headlands Technologies LLC boosted its stake in shares of Ligand Pharmaceuticals by 21.7% in the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 135 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Ligand Pharmaceuticals by 23.3% during the third 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. Finally, Benjamin F. Edwards & Company Inc. bought a new position in Ligand Pharmaceuticals during the second quarter worth $67,000. 91.28% of the stock is currently owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Stock Performance

Ligand Pharmaceuticals stock traded down $8.65 during mid-day trading on Friday, reaching $121.25. The stock had a trading volume of 260,623 shares, compared to its average volume of 103,330. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $51.21 and a fifty-two week high of $129.90. The stock's 50-day simple moving average is $105.57 and its 200-day simple moving average is $95.40. The firm has a market capitalization of $2.22 billion, a PE ratio of 56.13 and a beta of 0.99.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 EPS for the quarter, beating analysts' consensus estimates of $1.06 by $0.34. The business had revenue of $41.50 million during 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 previous year, the business posted $1.10 EPS. On average, research analysts forecast that Ligand Pharmaceuticals Incorporated will post 3.47 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on LGND. Oppenheimer upped their price target on shares of Ligand Pharmaceuticals from $135.00 to $147.00 and gave the company an "outperform" rating in a research report on Friday. HC Wainwright restated a "buy" rating and set a $157.00 target price on shares of Ligand Pharmaceuticals in a research report on Friday. Benchmark lifted their target price on Ligand Pharmaceuticals from $110.00 to $135.00 and gave the stock a "buy" rating in a report on Friday. Barclays increased their price target on Ligand Pharmaceuticals from $125.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $130.00 price objective on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $143.17.

Insider Transactions at Ligand Pharmaceuticals

In other news, insider Andrew Reardon sold 2,000 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $99.60, for a total value of $199,200.00. Following the completion of the sale, the insider now directly owns 22,534 shares of the company's stock, valued at $2,244,386.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 1,157 shares of the company's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $105.54, for a total value of $122,109.78. Following the completion of the sale, the chief operating officer now directly owns 67,211 shares of the company's stock, valued at approximately $7,093,448.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Andrew Reardon sold 2,000 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $99.60, for a total transaction of $199,200.00. Following the completion of the sale, the insider now owns 22,534 shares of the company's stock, valued at approximately $2,244,386.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 33,368 shares of company stock valued at $3,458,560 over the last three months. Corporate insiders own 5.90% of the company's stock.

Ligand Pharmaceuticals Company 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.