Granahan Investment Management LLC Invests $4.42 Million in Ligand Pharmaceuticals Incorporated $LGND

Granahan Investment Management LLC bought a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the third quarter, according to its most recent filing with the SEC. The firm bought 24,962 shares of the biotechnology company’s stock, valued at approximately $4,422,000.

Several other hedge funds have also bought and sold shares of the business. Ashton Thomas Private Wealth LLC increased its stake in Ligand Pharmaceuticals by 2.9% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,014 shares of the biotechnology company’s stock valued at $357,000 after purchasing an additional 56 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Ligand Pharmaceuticals by 12.3% in the third quarter. GAMMA Investing LLC now owns 575 shares of the biotechnology company’s stock valued at $102,000 after buying an additional 63 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in shares of Ligand Pharmaceuticals by 31.6% during the third quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 65 shares during the last quarter. Richardson Financial Services Inc. grew its holdings in shares of Ligand Pharmaceuticals by 85.8% during the third quarter. Richardson Financial Services Inc. now owns 210 shares of the biotechnology company’s stock valued at $37,000 after buying an additional 97 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of Ligand Pharmaceuticals by 1.8% during the third quarter. Arizona State Retirement System now owns 5,700 shares of the biotechnology company’s stock worth $1,010,000 after acquiring an additional 103 shares in the last quarter. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on LGND. Royal Bank Of Canada upped their target price on shares of Ligand Pharmaceuticals from $234.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, December 10th. Weiss Ratings reissued a “hold (c)” rating on shares of Ligand Pharmaceuticals in a report on Monday, December 29th. Citigroup started coverage on Ligand Pharmaceuticals in a research note on Tuesday, December 9th. They issued a “buy” rating and a $270.00 price objective for the company. HC Wainwright raised their target price on Ligand Pharmaceuticals from $231.00 to $239.00 and gave the company a “buy” rating in a report on Tuesday, February 24th. Finally, Wall Street Zen cut Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $245.00.

Ligand Pharmaceuticals Stock Up 2.4%

Ligand Pharmaceuticals stock opened at $207.80 on Tuesday. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $93.58 and a fifty-two week high of $227.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 21.98 and a current ratio of 22.23. The firm’s 50-day simple moving average is $196.59 and its 200 day simple moving average is $189.79. The stock has a market cap of $4.14 billion, a PE ratio of 35.64, a price-to-earnings-growth ratio of 2.50 and a beta of 1.17.

Ligand Pharmaceuticals (NASDAQ:LGND) last posted its earnings results on Thursday, February 26th. The biotechnology company reported $2.02 EPS for the quarter, topping the consensus estimate of $1.46 by $0.56. Ligand Pharmaceuticals had a net margin of 46.42% and a return on equity of 13.86%. The firm had revenue of $59.67 million for the quarter, compared to analysts’ expectations of $55.59 million. During the same quarter last year, the firm earned $1.27 EPS. The company’s quarterly revenue was up 39.5% compared to the same quarter last year. Ligand Pharmaceuticals has set its FY 2026 guidance at 8.000-9.000 EPS. Research analysts predict that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current fiscal year.

Insiders Place Their Bets

In other Ligand Pharmaceuticals news, Director Stephen L. Sabba sold 2,034 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $201.50, for a total value of $409,851.00. Following the transaction, the director owned 33,793 shares of the company’s stock, valued at approximately $6,809,289.50. The trade was a 5.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Octavio Espinoza sold 3,057 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $225.00, for a total value of $687,825.00. Following the completion of the transaction, the chief financial officer directly owned 21,010 shares in the company, valued at approximately $4,727,250. This represents a 12.70% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 24,915 shares of company stock valued at $5,165,939. 7.00% of the stock is owned by insiders.

Ligand Pharmaceuticals Company 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.