DekaBank Deutsche Girozentrale Purchases 400 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

DekaBank Deutsche Girozentrale raised its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) by 9.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,540 shares of the biotechnology company’s stock after buying an additional 400 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Ligand Pharmaceuticals were worth $527,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in LGND. New York State Teachers Retirement System boosted its stake in shares of Ligand Pharmaceuticals by 0.7% in the 4th quarter. New York State Teachers Retirement System now owns 27,850 shares of the biotechnology company’s stock valued at $4,302,000 after purchasing an additional 200 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Ligand Pharmaceuticals during the 4th quarter worth approximately $426,000. Allspring Global Investments Holdings LLC acquired a new stake in Ligand Pharmaceuticals during the 4th quarter worth approximately $2,826,000. Hussman Strategic Advisors Inc. acquired a new stake in Ligand Pharmaceuticals during the 4th quarter worth approximately $803,000. Finally, Commonwealth Equity Services LLC boosted its position in Ligand Pharmaceuticals by 311.7% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,348 shares of the biotechnology company’s stock worth $980,000 after buying an additional 4,806 shares during the period. 96.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on LGND. StockNews.com lowered shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Wednesday, June 15th. Barclays decreased their price target on shares of Ligand Pharmaceuticals from $165.00 to $157.00 and set an “overweight” rating for the company in a research note on Tuesday, July 5th. Craig Hallum decreased their price target on shares of Ligand Pharmaceuticals from $215.00 to $160.00 in a research note on Thursday, May 5th. Stephens cut their price objective on shares of Ligand Pharmaceuticals to $130.00 and set a “na” rating on the stock in a report on Monday, May 16th. Finally, BMO Capital Markets began coverage on shares of Ligand Pharmaceuticals in a report on Thursday, June 16th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.50.

Ligand Pharmaceuticals Trading Down 4.1 %

Shares of LGND opened at $91.27 on Friday. The company has a quick ratio of 5.88, a current ratio of 6.48 and a debt-to-equity ratio of 0.22. The business’s 50-day moving average price is $87.06 and its 200-day moving average price is $101.81. The stock has a market cap of $1.54 billion, a PE ratio of 66.14, a P/E/G ratio of 9.47 and a beta of 1.15. Ligand Pharmaceuticals Incorporated has a twelve month low of $72.57 and a twelve month high of $169.98.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). The company had revenue of $45.70 million during the quarter, compared to the consensus estimate of $34.21 million. Ligand Pharmaceuticals had a return on equity of 8.29% and a net margin of 9.00%. The firm’s revenue for the quarter was down 17.2% on a year-over-year basis. During the same quarter last year, the company posted $1.03 earnings per share. On average, equities analysts forecast that Ligand Pharmaceuticals Incorporated will post 0.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Matthew W. Foehr bought 2,500 shares of the business’s stock in a transaction on Friday, May 13th. The stock was acquired at an average price of $82.76 per share, with a total value of $206,900.00. Following the completion of the purchase, the chief operating officer now directly owns 173,354 shares in the company, valued at $14,346,777.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 10.40% of the stock is owned by insiders.

Ligand Pharmaceuticals Profile

(Get Rating)

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

Featured Stories

Want to see what other hedge funds are holding LGND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating).

Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

Receive News & Ratings for Ligand Pharmaceuticals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ligand Pharmaceuticals and related companies with MarketBeat.com's FREE daily email newsletter.