Northern Trust Corp Has $30.32 Million Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Northern Trust Corp lifted its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 7.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 282,957 shares of the biotechnology company's stock after acquiring an additional 20,207 shares during the period. Northern Trust Corp owned 1.50% of Ligand Pharmaceuticals worth $30,319,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in Ligand Pharmaceuticals by 119.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 406 shares of the biotechnology company's stock valued at $43,000 after buying an additional 221 shares in the last quarter. Redwood Park Advisors LLC acquired a new stake in shares of Ligand Pharmaceuticals in the fourth quarter worth $48,000. Sterling Capital Management LLC boosted its stake in Ligand Pharmaceuticals by 825.4% during the fourth quarter. Sterling Capital Management LLC now owns 546 shares of the biotechnology company's stock worth $59,000 after buying an additional 487 shares in the last quarter. US Bancorp DE boosted its stake in Ligand Pharmaceuticals by 14.8% during the fourth quarter. US Bancorp DE now owns 758 shares of the biotechnology company's stock worth $81,000 after buying an additional 98 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in Ligand Pharmaceuticals by 317.5% during the fourth quarter. Tower Research Capital LLC TRC now owns 810 shares of the biotechnology company's stock worth $87,000 after buying an additional 616 shares in the last quarter. Institutional investors own 91.28% of the company's stock.

Ligand Pharmaceuticals Price Performance

Ligand Pharmaceuticals stock traded up $0.83 during mid-day trading on Friday, hitting $104.30. 21,422 shares of the company's stock traded hands, compared to its average volume of 116,828. The firm has a 50 day simple moving average of $105.89 and a two-hundred day simple moving average of $112.25. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $77.43 and a fifty-two week high of $129.90. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 41.55 and a beta of 0.87.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The biotechnology company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.10. Ligand Pharmaceuticals had a return on equity of 4.95% and a net margin of 29.68%. The business had revenue of $45.33 million during the quarter, compared to the consensus estimate of $37.84 million. During the same quarter last year, the firm posted $3.84 EPS. On average, research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 1.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

LGND has been the topic of a number of recent research reports. Oppenheimer lifted their price target on shares of Ligand Pharmaceuticals from $142.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. StockNews.com downgraded shares of Ligand Pharmaceuticals from a "hold" rating to a "sell" rating in a research note on Monday. Finally, Stifel Nicolaus began coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, April 10th. They issued a "buy" rating and a $143.00 target price on the stock. One investment analyst has rated the stock with a sell rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, Ligand Pharmaceuticals has a consensus rating of "Moderate Buy" and an average target price of $146.14.

Insider Transactions at Ligand Pharmaceuticals

In other news, CFO Octavio Espinoza bought 1,500 shares of the company's stock in a transaction dated Friday, May 9th. The stock was bought at an average price of $104.06 per share, with a total value of $156,090.00. Following the completion of the acquisition, the chief financial officer now owns 27,932 shares of the company's stock, valued at $2,906,603.92. This represents a 5.67% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Todd C. Davis purchased 9,510 shares of the firm's stock in a transaction that occurred on Friday, May 9th. The stock was bought at an average price of $105.20 per share, for a total transaction of $1,000,452.00. Following the transaction, the chief executive officer now directly owns 161,234 shares of the company's stock, valued at $16,961,816.80. This trade represents a 6.27% increase in their position. The disclosure for this purchase can be found here. Insiders own 5.90% of the company's stock.

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.