Legal & General Group Plc boosted its stake in Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 3.6% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,596 shares of the biotechnology company’s stock after buying an additional 1,614 shares during the quarter. Legal & General Group Plc’s holdings in Ligand Pharmaceuticals were worth $9,666,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of LGND. Mount Yale Investment Advisors LLC purchased a new stake in Ligand Pharmaceuticals in the 1st quarter valued at approximately $118,000. Fred Alger Management Inc. purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $207,000. World Asset Management Inc purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $214,000. Cim LLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $215,000. Finally, Van Hulzen Asset Management LLC purchased a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $218,000.
Shares of LGND opened at $254.79 on Friday. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.34 and a quick ratio of 2.32. The firm has a market capitalization of $5.41 billion, a price-to-earnings ratio of 47.96, a price-to-earnings-growth ratio of 1.79 and a beta of 0.99. Ligand Pharmaceuticals Inc. has a fifty-two week low of $126.50 and a fifty-two week high of $261.33.
A number of research firms recently issued reports on LGND. Argus set a $300.00 target price on Ligand Pharmaceuticals and gave the company a “buy” rating in a research note on Tuesday, September 11th. They noted that the move was a valuation call. Roth Capital reaffirmed a “neutral” rating on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 8th. They noted that the move was a valuation call. Stephens reaffirmed a “buy” rating and issued a $248.00 target price on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 8th. HC Wainwright reaffirmed a “buy” rating and issued a $249.00 target price on shares of Ligand Pharmaceuticals in a research note on Tuesday, August 7th. Finally, Craig Hallum upped their target price on Ligand Pharmaceuticals from $230.00 to $260.00 and gave the company a “buy” rating in a research note on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $220.00.
In other Ligand Pharmaceuticals news, Director John W. Kozarich sold 2,500 shares of the business’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $207.48, for a total value of $518,700.00. Following the completion of the transaction, the director now directly owns 28,642 shares in the company, valued at approximately $5,942,642.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John L. Higgins sold 34,500 shares of the business’s stock in a transaction on Friday, August 17th. The shares were sold at an average price of $241.96, for a total value of $8,347,620.00. Following the completion of the transaction, the chief executive officer now owns 110,426 shares of the company’s stock, valued at $26,718,674.96. The disclosure for this sale can be found here. Insiders sold a total of 102,609 shares of company stock valued at $25,501,826 over the last quarter. 7.80% of the stock is currently owned by insiders.
Ligand Pharmaceuticals Profile
Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing and acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Promacta, an oral medicine that increases the number of platelets in the blood; Kyprolis and Evomela, which are used to treat multiple myeloma; Baxdela, a captisol-enabled delafloxacin-IV for the treatment of acute bacterial skin and skin structure infections; Nexterone, a captisol-enabled formulation of amiodarone; Noxafil-IV, a captisol-enabled formulation of posaconazole for IV use; Carnexiv, which is indicated as replacement therapy for oral carbamazepine formulations; bazedoxifene for the treatment of postmenopausal osteoporosis; commercial pericardial repair and CanGaroo envelope extracellular matrix products; Exemptia for autoimmune diseases; Vivitra for breast cancer; and Bryxta for non-small cell lung cancer.
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