Melphalan

BNP Paribas Financial Markets reduced its stake in Ligand Pharmaceuticals by 27.6% during Q3. Several investors modified their holdings, with Woodstock Corp, Creative Planning, and Mirae Asset Global Investments increasing their positions. Insiders sold shares worth $2.27 million in the last quarter. LGND stock opened at $116.91, with a consensus rating of 'Buy' and an average target price of $145.33. Ligand Pharmaceuticals develops and licenses biopharmaceutical assets globally.

Beam Therapeutics reported a patient death in a Phase I/II trial for BEAM-101, attributing it to the preconditioning regimen, not the treatment. The FDA allowed the trial to continue without changes. Researchers seek less toxic alternatives to busulfan, crucial in cell and gene therapy protocols.

Thrivent Financial reduced its stake in Ligand Pharmaceuticals by 1.6% in Q2. Other hedge funds also adjusted their positions, with Vanguard Group, Dimensional Fund Advisors, Chicago Capital, Rice Hall James, and William Blair Investment Management increasing their holdings. Wall Street analysts forecast growth, with a consensus 'Moderate Buy' rating and an average target price of $131.80. Ligand Pharmaceuticals' stock rose 2.5% to $104.78, with a market cap of $1.89 billion. The company reported quarterly earnings of $1.40 EPS, beating estimates by $0.34, and revenue of $41.50 million, up 57.2% YoY. Insiders sold 51,613 shares over the last 90 days, while CEO Todd C. Davis bought 2,500 shares at $97.39 each.