Universal Beteiligungs und Servicegesellschaft mbH Buys Shares of 21,086 Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH invested approximately $2.22 million in Ligand Pharmaceuticals by acquiring 21,086 shares, representing about 0.11% of the company.
• Ligand Pharmaceuticals reported a quarterly EPS of $1.33, exceeding analysts' expectations of $1.23, indicating strong performance with revenue of $45.33 million against a forecast of $37.84 million.
• Institutional investors control 91.28% of Ligand Pharmaceuticals' stock, with several entities increasing their stakes in recent quarters.

Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 21,086 shares of the biotechnology company's stock, valued at approximately $2,217,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.11% of Ligand Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Arizona State Retirement System increased its holdings in shares of Ligand Pharmaceuticals by 2.1% in the first quarter. Arizona State Retirement System now owns 5,407 shares of the biotechnology company's stock valued at $568,000 after purchasing an additional 110 shares during the last quarter. Portside Wealth Group LLC grew its stake in Ligand Pharmaceuticals by 3.2% during the first quarter. Portside Wealth Group LLC now owns 3,575 shares of the biotechnology company's stock worth $376,000 after buying an additional 112 shares in the last quarter. Summit Investment Advisors Inc. lifted its holdings in shares of Ligand Pharmaceuticals by 9.4% in the fourth quarter. Summit Investment Advisors Inc. now owns 1,811 shares of the biotechnology company's stock worth $194,000 after acquiring an additional 155 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Ligand Pharmaceuticals by 0.4% in the fourth quarter. Legal & General Group Plc now owns 57,838 shares of the biotechnology company's stock worth $6,197,000 after acquiring an additional 214 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Ligand Pharmaceuticals by 5.2% in the fourth quarter. Bank of Montreal Can now owns 4,598 shares of the biotechnology company's stock worth $493,000 after acquiring an additional 226 shares during the last quarter. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Trading Up 0.9%

Shares of NASDAQ:LGND traded up $1.14 during midday trading on Friday, reaching $132.72. The company had a trading volume of 155,992 shares, compared to its average volume of 184,848. Ligand Pharmaceuticals Incorporated has a 52-week low of $90.29 and a 52-week high of $143.13. The company's 50 day moving average price is $118.18 and its 200 day moving average price is $112.79. The stock has a market cap of $2.56 billion, a P/E ratio of -18.64 and a beta of 0.85.

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, beating analysts' consensus estimates of $1.23 by $0.10. Ligand Pharmaceuticals had a negative return on equity of 7.83% and a negative net margin of 73.07%. The business had revenue of $45.33 million for the quarter, compared to analysts' expectations of $37.84 million. During the same period in the previous year, the business posted $3.84 EPS. Research analysts forecast that Ligand Pharmaceuticals Incorporated will post 1.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on LGND. Wall Street Zen downgraded shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research report on Monday, May 12th. Stifel Nicolaus started coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, April 10th. They set a "buy" rating and a $143.00 price objective for the company. Finally, Oppenheimer raised their price objective on shares of Ligand Pharmaceuticals from $145.00 to $162.00 and gave the stock an "outperform" rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $150.00.

Insider Activity

In other news, CFO Octavio Espinoza purchased 1,500 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were bought at an average price of $104.06 per share, for a total transaction of $156,090.00. Following the purchase, the chief financial officer directly owned 27,932 shares in the company, valued at approximately $2,906,603.92. This trade represents a 5.67% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John W. Kozarich sold 934 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $125.00, for a total transaction of $116,750.00. Following the sale, the director directly owned 46,456 shares in the company, valued at $5,807,000. This trade represents a 1.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,934 shares of company stock worth $335,060 over the last ninety days. Company insiders own 7.00% of the company's stock.

About Ligand Pharmaceuticals

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.