ACG Wealth Takes Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

ACG Wealth bought a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,373 shares of the biotechnology company’s stock, valued at approximately $122,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Qube Research & Technologies Ltd acquired a new stake in Ligand Pharmaceuticals during the first quarter worth about $839,000. AMI Asset Management Corp increased its position in shares of Ligand Pharmaceuticals by 5.2% during the first quarter. AMI Asset Management Corp now owns 42,551 shares of the biotechnology company’s stock valued at $4,787,000 after acquiring an additional 2,088 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Ligand Pharmaceuticals during the fourth quarter valued at about $8,356,000. Swiss National Bank increased its position in shares of Ligand Pharmaceuticals by 7.6% during the first quarter. Swiss National Bank now owns 39,500 shares of the biotechnology company’s stock valued at $4,443,000 after acquiring an additional 2,800 shares during the last quarter. Finally, GW&K Investment Management LLC increased its position in shares of Ligand Pharmaceuticals by 36.7% during the first quarter. GW&K Investment Management LLC now owns 34,873 shares of the biotechnology company’s stock valued at $3,923,000 after acquiring an additional 9,363 shares during the last quarter. 87.87% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

LGND has been the subject of a number of recent analyst reports. StockNews.com cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Tuesday. Barclays lowered their price objective 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. BMO Capital Markets started coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, June 16th. They issued an “outperform” rating for the company. Finally, Roth Capital lowered their price objective on shares of Ligand Pharmaceuticals from $185.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, September 2nd. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Ligand Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $177.00.

Insider Transactions at Ligand Pharmaceuticals

In other news, CEO John L. Higgins sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $90.00, for a total transaction of $180,000.00. Following the completion of the sale, the chief executive officer now owns 367,180 shares in the company, valued at approximately $33,046,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 10.40% of the company’s stock.

Ligand Pharmaceuticals Trading Down 2.0 %

Shares of NASDAQ:LGND opened at $81.50 on Friday. The company has a market capitalization of $1.38 billion, a PE ratio of -177.17, a P/E/G ratio of 4.31 and a beta of 1.10. Ligand Pharmaceuticals Incorporated has a twelve month low of $72.57 and a twelve month high of $169.98. The firm has a 50 day simple moving average of $95.63 and a 200-day simple moving average of $95.32.

Ligand Pharmaceuticals Company Profile

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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.

See Also

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

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