Keybank National Association OH reduced its position in shares of Ligand Pharmaceuticals Inc. (NASDAQ:LGND) by 34.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,664 shares of the biotechnology company’s stock after selling 875 shares during the period. Keybank National Association OH’s holdings in Ligand Pharmaceuticals were worth $209,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Exane Derivatives purchased a new position in Ligand Pharmaceuticals in the fourth quarter valued at about $36,000. Pearl River Capital LLC purchased a new position in Ligand Pharmaceuticals in the fourth quarter valued at about $41,000. Financial Gravity Wealth Inc. purchased a new position in Ligand Pharmaceuticals in the first quarter valued at about $51,000. Quantamental Technologies LLC purchased a new position in Ligand Pharmaceuticals in the fourth quarter valued at about $68,000. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its holdings in Ligand Pharmaceuticals by 33.8% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 713 shares of the biotechnology company’s stock valued at $95,000 after buying an additional 180 shares in the last quarter.

In other news, CEO John L. Higgins bought 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were purchased at an average price of $114.29 per share, for a total transaction of $285,725.00. Following the completion of the transaction, the chief executive officer now owns 141,399 shares in the company, valued at $16,160,491.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jason Aryeh bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The shares were purchased at an average price of $109.51 per share, for a total transaction of $109,510.00. Following the transaction, the director now owns 59,868 shares of the company’s stock, valued at approximately $6,556,144.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 6,952 shares of company stock worth $785,595. 7.80% of the stock is owned by company insiders.

A number of research analysts have issued reports on the stock. HC Wainwright reaffirmed a “buy” rating and issued a $254.00 target price (down from $281.00) on shares of Ligand Pharmaceuticals in a report on Wednesday, March 6th. Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “buy” rating and set a $138.00 price target on the stock in a research report on Tuesday, March 26th. BidaskClub upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “sell” rating in a research report on Wednesday, February 27th. ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Argus reiterated a “buy” rating and issued a $150.00 price target (down from $200.00) on shares of Ligand Pharmaceuticals in a research report on Wednesday, February 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Ligand Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $206.57.

LGND stock opened at $110.15 on Tuesday. The company has a market capitalization of $2.11 billion, a PE ratio of 17.54, a price-to-earnings-growth ratio of 2.29 and a beta of 1.40. Ligand Pharmaceuticals Inc. has a 12 month low of $98.56 and a 12 month high of $278.62. The company has a current ratio of 8.39, a quick ratio of 8.33 and a debt-to-equity ratio of 0.57.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings results on Thursday, May 2nd. The biotechnology company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.88 by $0.28. The business had revenue of $43.48 million for the quarter, compared to analyst estimates of $38.28 million. Ligand Pharmaceuticals had a net margin of 320.12% and a return on equity of 19.21%. The company’s quarterly revenue was down 22.6% on a year-over-year basis. During the same period in the prior year, the business earned $1.55 earnings per share. Equities analysts anticipate that Ligand Pharmaceuticals Inc. will post 2.34 EPS for the current fiscal year.

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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; Aziyo portfolio of 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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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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