Impax Asset Management Group plc Has $14.66 Million Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Impax Asset Management Group plc grew its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) by 11.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 205,208 shares of the biotechnology company's stock after buying an additional 20,888 shares during the period. Impax Asset Management Group plc owned 1.18% of Ligand Pharmaceuticals worth $14,656,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Advisor Group Holdings Inc. grew its holdings in shares of Ligand Pharmaceuticals by 10.6% during the first quarter. Advisor Group Holdings Inc. now owns 1,341 shares of the biotechnology company's stock worth $151,000 after buying an additional 128 shares in the last quarter. FMR LLC lifted its holdings in shares of Ligand Pharmaceuticals by 38.0% during the 1st quarter. FMR LLC now owns 566 shares of the biotechnology company's stock valued at $42,000 after acquiring an additional 156 shares in the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Ligand Pharmaceuticals by 13.0% in the second quarter. Ameritas Investment Partners Inc. now owns 1,377 shares of the biotechnology company's stock worth $99,000 after buying an additional 158 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Ligand Pharmaceuticals by 13.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,435 shares of the biotechnology company's stock worth $96,000 after acquiring an additional 165 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Ligand Pharmaceuticals by 6.4% in the second quarter. Sei Investments Co. now owns 2,783 shares of the biotechnology company's stock valued at $251,000 after purchasing an additional 167 shares during the period. 91.28% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on LGND. HC Wainwright reissued a "buy" rating and issued a $144.00 price objective on shares of Ligand Pharmaceuticals in a research report on Thursday, February 29th. Benchmark reissued a "buy" rating and set a $95.00 price target on shares of Ligand Pharmaceuticals in a research report on Wednesday, December 13th. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $116.33.

Ligand Pharmaceuticals Stock Performance

Shares of Ligand Pharmaceuticals stock traded down $0.72 during trading on Wednesday, reaching $80.78. The company had a trading volume of 146,147 shares, compared to its average volume of 158,943. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 29.37 and a beta of 1.01. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $49.24 and a fifty-two week high of $94.57. The firm's fifty day moving average is $74.66 and its 200-day moving average is $66.84.

Ligand Pharmaceuticals (NASDAQ:LGND - Get Free Report) last released its earnings results on Tuesday, February 27th. The biotechnology company reported $0.79 EPS for the quarter, topping analysts' consensus estimates of $0.24 by $0.55. The company had revenue of $28.10 million for the quarter, compared to the consensus estimate of $24.54 million. Ligand Pharmaceuticals had a return on equity of 11.98% and a net margin of 37.80%. On average, research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.41 EPS for the current fiscal year.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Stephen L. Sabba sold 1,893 shares of the firm's stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $74.30, for a total value of $140,649.90. Following the transaction, the director now owns 28,926 shares of the company's stock, valued at $2,149,201.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 10.40% of the stock is owned by insiders.

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.