Allspring Global Investments Holdings LLC Has $13.65 Million Position in Ligand Pharmaceuticals Incorporated $LGND

Allspring Global Investments Holdings LLC lessened its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 33.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,818 shares of the biotechnology company’s stock after selling 36,606 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.36% of Ligand Pharmaceuticals worth $13,653,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. USA Financial Formulas acquired a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth about $43,000. Wealth Enhancement Advisory Services LLC lifted its position in Ligand Pharmaceuticals by 3.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,688 shares of the biotechnology company’s stock valued at $527,000 after acquiring an additional 78 shares in the last quarter. Park Avenue Securities LLC acquired a new position in Ligand Pharmaceuticals during the 4th quarter valued at about $265,000. JPMorgan Chase & Co. boosted its stake in Ligand Pharmaceuticals by 4.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 39,718 shares of the biotechnology company’s stock valued at $7,036,000 after purchasing an additional 1,703 shares during the last quarter. Finally, Tudor Investment Corp ET AL bought a new stake in Ligand Pharmaceuticals during the 3rd quarter worth approximately $2,789,955,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Analysts Set New Price Targets

LGND has been the subject of a number of analyst reports. Wall Street Zen lowered Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. 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 research note on Wednesday, December 10th. Bank of America began coverage on shares of Ligand Pharmaceuticals in a research report on Wednesday, March 11th. They set a “buy” rating and a $244.00 price target on the stock. HC Wainwright upped their price objective on shares of Ligand Pharmaceuticals from $231.00 to $239.00 and gave the stock a “buy” rating in a research report on Tuesday, February 24th. Finally, Citigroup increased their price objective on shares of Ligand Pharmaceuticals from $270.00 to $276.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $245.86.

Ligand Pharmaceuticals Stock Performance

NASDAQ:LGND opened at $199.59 on Friday. The company has a market capitalization of $3.98 billion, a P/E ratio of 34.24, a P/E/G ratio of 2.46 and a beta of 1.14. The business has a fifty day simple moving average of $197.69 and a two-hundred day simple moving average of $193.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 22.23 and a quick ratio of 21.98. Ligand Pharmaceuticals Incorporated has a 1 year low of $93.58 and a 1 year high of $227.92.

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

Insider Activity

In other news, insider Andrew Reardon sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $201.24, for a total value of $1,006,200.00. Following the completion of the transaction, the insider directly owned 41,382 shares in the company, valued at approximately $8,327,713.68. This trade represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Octavio Espinoza sold 3,057 shares of the stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $225.00, for a total transaction of $687,825.00. Following the completion of the sale, the chief financial officer owned 21,010 shares in the company, valued at $4,727,250. This represents a 12.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 30,915 shares of company stock valued at $6,385,917. Corporate insiders own 7.00% of the company’s stock.

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.