Allspring Global Investments Holdings LLC Has $10.14 Million Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Allspring Global Investments Holdings LLC lessened its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 3.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,419 shares of the biotechnology company's stock after selling 3,643 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.50% of Ligand Pharmaceuticals worth $10,137,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Illinois Municipal Retirement Fund lifted its position in shares of Ligand Pharmaceuticals by 9.2% in the first quarter. Illinois Municipal Retirement Fund now owns 10,725 shares of the biotechnology company's stock worth $1,128,000 after purchasing an additional 902 shares in the last quarter. Advisor Resource Council bought a new stake in Ligand Pharmaceuticals during the first quarter worth $2,244,000. Chicago Capital LLC raised its position in Ligand Pharmaceuticals by 0.5% during the first quarter. Chicago Capital LLC now owns 554,517 shares of the biotechnology company's stock worth $58,302,000 after acquiring an additional 2,929 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Ligand Pharmaceuticals by 1,289.2% during the first quarter. Exchange Traded Concepts LLC now owns 1,153 shares of the biotechnology company's stock worth $121,000 after acquiring an additional 1,070 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in Ligand Pharmaceuticals during the first quarter worth $32,000. Institutional investors own 91.28% of the company's stock.

Analysts Set New Price Targets

LGND has been the topic of several analyst reports. Oppenheimer upped their price target on shares of Ligand Pharmaceuticals from $142.00 to $145.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. Wall Street Zen lowered shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Finally, Stifel Nicolaus assumed coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, April 10th. They set a "buy" rating and a $143.00 price target on the stock. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Ligand Pharmaceuticals currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.14.

Insider Transactions at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, CEO Todd C. Davis acquired 9,510 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $105.20 per share, for a total transaction of $1,000,452.00. Following the acquisition, the chief executive officer directly owned 161,234 shares in the company, valued at $16,961,816.80. This represents a 6.27% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Octavio Espinoza acquired 1,500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The stock was acquired at an average price of $104.06 per share, with a total value of $156,090.00. Following the acquisition, the chief financial officer owned 27,932 shares in the company, valued at $2,906,603.92. The trade was a 5.67% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 2,000 shares of company stock valued at $218,310. 7.00% of the stock is currently owned by insiders.

Ligand Pharmaceuticals Trading Down 0.7%

Ligand Pharmaceuticals stock traded down $0.82 during trading hours on Monday, reaching $113.76. 98,761 shares of the stock were exchanged, compared to its average volume of 118,079. The company has a market cap of $2.19 billion, a P/E ratio of -15.98 and a beta of 0.84. Ligand Pharmaceuticals Incorporated has a twelve month low of $85.18 and a twelve month high of $129.90. The stock has a 50 day moving average of $108.51 and a two-hundred day moving average of $110.00.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The biotechnology company reported $1.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.10. The firm had revenue of $45.33 million for the quarter, compared to the consensus estimate of $37.84 million. Ligand Pharmaceuticals had a negative net margin of 73.07% and a negative return on equity of 7.83%. During the same period in the prior year, the company posted $3.84 earnings per share. On average, analysts expect that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current fiscal year.

Ligand Pharmaceuticals Company Profile

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.