Vanguard Group Inc. Purchases 24,653 Shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Vanguard Group Inc. increased its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDFree Report) by 1.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,876,514 shares of the biotechnology company’s stock after buying an additional 24,653 shares during the period. Vanguard Group Inc. owned 10.60% of Ligand Pharmaceuticals worth $134,021,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. lifted its position in Ligand Pharmaceuticals by 3.2% during the 4th quarter. Franklin Resources Inc. now owns 14,066 shares of the biotechnology company’s stock worth $1,005,000 after acquiring an additional 438 shares during the last quarter. Principal Securities Inc. bought a new stake in Ligand Pharmaceuticals during the 4th quarter valued at approximately $53,000. Kennedy Capital Management LLC boosted its stake in Ligand Pharmaceuticals by 3.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 35,699 shares of the biotechnology company’s stock valued at $2,139,000 after purchasing an additional 1,215 shares during the period. Scarborough Advisors LLC acquired a new stake in Ligand Pharmaceuticals in the 4th quarter valued at approximately $107,000. Finally, Isthmus Partners LLC increased its position in Ligand Pharmaceuticals by 4.7% in the 4th quarter. Isthmus Partners LLC now owns 34,347 shares of the biotechnology company’s stock worth $2,453,000 after buying an additional 1,530 shares during the period. 91.28% of the stock is owned by institutional investors.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CFO Octavio Espinoza sold 5,873 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $86.01, for a total transaction of $505,136.73. Following the completion of the transaction, the chief financial officer now owns 23,882 shares in the company, valued at $2,054,090.82. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Octavio Espinoza sold 5,873 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $86.01, for a total value of $505,136.73. Following the completion of the transaction, the chief financial officer now directly owns 23,882 shares of the company’s stock, valued at approximately $2,054,090.82. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Matthew E. Korenberg sold 3,440 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $84.54, for a total value of $290,817.60. Following the completion of the sale, the insider now directly owns 100,421 shares in the company, valued at approximately $8,489,591.34. The disclosure for this sale can be found here. Insiders have sold a total of 25,403 shares of company stock valued at $2,150,882 over the last quarter. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

LGND has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $144.00 price objective on shares of Ligand Pharmaceuticals in a research report on Thursday, June 27th. Benchmark reissued a “buy” rating and issued a $95.00 price target on shares of Ligand Pharmaceuticals in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Ligand Pharmaceuticals currently has an average rating of “Moderate Buy” and an average target price of $116.33.

Read Our Latest Stock Report on LGND

Ligand Pharmaceuticals Trading Down 2.5 %

Shares of NASDAQ:LGND opened at $82.70 on Friday. The firm has a market capitalization of $1.49 billion, a PE ratio of 16.00 and a beta of 1.01. Ligand Pharmaceuticals Incorporated has a 1-year low of $49.24 and a 1-year high of $94.57. The business’s 50 day moving average is $81.39 and its 200-day moving average is $76.49.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The biotechnology company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $3.01. Ligand Pharmaceuticals had a net margin of 79.30% and a return on equity of 8.52%. The firm had revenue of $30.90 million for the quarter, compared to the consensus estimate of $27.92 million. During the same quarter in the previous year, the company earned $1.96 earnings per share. The business’s revenue was down 29.8% compared to the same quarter last year. On average, sell-side analysts predict that Ligand Pharmaceuticals Incorporated will post 3.54 EPS for the current year.

Ligand Pharmaceuticals Company Profile

(Free Report)

Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, engages in the development and licensing of biopharmaceutical assets worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Rylaze, a recombinant erwinia asparaginase for the treatment of acute lymphoblastic leukemia or lymphoblastic lymphoma in adult and pediatric patients; Filspari, a dual endothelin and angiotensin II receptor antagonist in development for rare kidney diseases and non-immunosuppressive treatment indicated for immunoglobulin A nephropathy; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by streptococcus pneumoniae serotypes; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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

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