Mason Street Advisors LLC increased its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 6.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,438 shares of the biotechnology company’s stock after buying an additional 282 shares during the period. Mason Street Advisors LLC’s holdings in Ligand Pharmaceuticals were worth $470,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Flinton Capital Management LLC bought a new position in shares of Ligand Pharmaceuticals during the fourth quarter worth approximately $104,000. Tyers Asset Management LLC boosted its stake in shares of Ligand Pharmaceuticals by 23.3% in the first quarter. Tyers Asset Management LLC now owns 1,036 shares of the biotechnology company’s stock valued at $110,000 after buying an additional 196 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of Ligand Pharmaceuticals by 43.2% in the first quarter. LS Investment Advisors LLC now owns 1,197 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 361 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its stake in Ligand Pharmaceuticals by 1.0% in the first quarter. Independent Portfolio Consultants Inc. now owns 1,555 shares of the biotechnology company’s stock worth $165,000 after buying an additional 15 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new stake in Ligand Pharmaceuticals during the first quarter worth approximately $174,000.
Shares of Ligand Pharmaceuticals Incorporated (LGND) traded down 1.60% on Monday, hitting $116.75. 161,045 shares of the stock traded hands. Ligand Pharmaceuticals Incorporated has a one year low of $87.50 and a one year high of $139.79. The company’s 50 day moving average is $114.92 and its 200 day moving average is $108.32. The stock’s market cap is $2.45 billion.
Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings results on Tuesday, May 9th. The biotechnology company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.55 by $0.16. Ligand Pharmaceuticals had a negative net margin of 2.91% and a positive return on equity of 2.57%. The company had revenue of $29.27 million for the quarter, compared to analyst estimates of $30.25 million. During the same period last year, the company posted $0.63 earnings per share. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. On average, equities analysts forecast that Ligand Pharmaceuticals Incorporated will post $2.78 EPS for the current year.
LGND has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Ligand Pharmaceuticals from a “hold” rating to a “strong sell” rating in a report on Monday, May 15th. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 23rd. Roth Capital set a $120.00 price objective on shares of Ligand Pharmaceuticals and gave the company a “buy” rating in a report on Monday, May 22nd. Finally, ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $130.47.
In other news, CEO John L. Higgins sold 12,000 shares of Ligand Pharmaceuticals stock in a transaction on Friday, June 9th. The stock was sold at an average price of $114.87, for a total value of $1,378,440.00. Following the transaction, the chief executive officer now owns 151,171 shares in the company, valued at approximately $17,365,012.77. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Matthew W. Foehr sold 5,621 shares of Ligand Pharmaceuticals stock in a transaction on Friday, May 12th. The shares were sold at an average price of $112.20, for a total value of $630,676.20. Following the completion of the transaction, the insider now owns 98,341 shares in the company, valued at approximately $11,033,860.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,534 shares of company stock valued at $6,694,514. 14.70% of the stock is currently owned by insiders.
About Ligand Pharmaceuticals
Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.
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