Moody National Bank Trust Division Acquires Shares of 12,147 Ligand Pharmaceuticals Incorporated $LGND

Key Points

• Moody National Bank Trust Division acquired 12,147 Ligand Pharmaceuticals shares worth approximately $3.84 million, representing about 0.06% of the company. Institutional investors collectively own 91.28% of LGND.
• Analysts remain broadly bullish, with seven Buy ratings and one Hold rating, a “Moderate Buy” consensus, and an average price target of $326. Ligand shares recently opened at $300.79, near their 12-month high of $326.63.
• Company insiders sold 35,231 shares worth approximately $9.2 million over the past 90 days. Meanwhile, Ligand’s latest quarterly results missed estimates, reporting $1.63 in EPS versus $1.84 expected and revenue of $51.72 million versus $59.10 million expected.

Moody National Bank Trust Division acquired a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,147 shares of the biotechnology company's stock, valued at approximately $3,840,000. Moody National Bank Trust Division owned about 0.06% of Ligand Pharmaceuticals at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of LGND. Franklin Resources Inc. grew its stake in shares of Ligand Pharmaceuticals by 115.9% in the fourth quarter. Franklin Resources Inc. now owns 496,160 shares of the biotechnology company's stock worth $93,809,000 after purchasing an additional 266,304 shares during the last quarter. Invesco Ltd. raised its position in Ligand Pharmaceuticals by 64.6% during the 3rd quarter. Invesco Ltd. now owns 378,295 shares of the biotechnology company's stock valued at $67,011,000 after purchasing an additional 148,437 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in Ligand Pharmaceuticals by 385,028.9% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 146,349 shares of the biotechnology company's stock worth $27,670,000 after buying an additional 146,311 shares during the period. Fiera Capital Corp bought a new stake in shares of Ligand Pharmaceuticals in the 4th quarter worth approximately $24,813,000. Finally, Nomura Holdings Inc. bought a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter worth approximately $21,498,000. 91.28% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Jason Haas sold 6,461 shares of the firm's stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $255.58, for a total transaction of $1,651,302.38. Following the completion of the transaction, the director owned 4,981 shares of the company's stock, valued at approximately $1,273,043.98. This trade represents a 56.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John L. Lamattina sold 4,591 shares of the business's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $250.88, for a total value of $1,151,790.08. Following the completion of the sale, the director directly owned 26,969 shares in the company, valued at approximately $6,765,982.72. This represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 35,231 shares of company stock valued at $9,199,401. 5.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on LGND shares. Royal Bank Of Canada upped their target price on Ligand Pharmaceuticals from $262.00 to $340.00 and gave the company an "outperform" rating in a report on Wednesday, July 15th. HC Wainwright lifted their price target on shares of Ligand Pharmaceuticals from $243.00 to $289.00 and gave the company a "buy" rating in a report on Thursday, April 30th. Stifel Nicolaus boosted their price objective on shares of Ligand Pharmaceuticals from $255.00 to $332.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Oppenheimer restated an "outperform" rating and issued a $326.00 price objective (up from $285.00) on shares of Ligand Pharmaceuticals in a report on Monday. Finally, Citigroup initiated coverage on shares of Ligand Pharmaceuticals in a research report on Tuesday, July 21st. They issued a "buy" rating and a $387.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $326.00.

Ligand Pharmaceuticals Stock Performance

Shares of LGND stock opened at $300.79 on Wednesday. The company's fifty day moving average price is $282.10 and its 200-day moving average price is $233.39. The stock has a market cap of $6.03 billion, a PE ratio of 40.81, a price-to-earnings-growth ratio of 2.89 and a beta of 1.13. The company has a current ratio of 21.28, a quick ratio of 20.95 and a debt-to-equity ratio of 0.45. Ligand Pharmaceuticals Incorporated has a 12 month low of $132.21 and a 12 month high of $326.63.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The biotechnology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.21). Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The business had revenue of $51.72 million during the quarter, compared to the consensus estimate of $59.10 million. During the same quarter in the previous year, the business earned $1.33 earnings per share. The firm's revenue was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Ligand Pharmaceuticals Incorporated will post 4.56 EPS for the current fiscal year.

Ligand Pharmaceuticals Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company's product offerings center around several core platforms.

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