47,703 Shares in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Acquired by Acuitas Investments LLC

Acuitas Investments LLC acquired a new position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 47,703 shares of the biotechnology company's stock, valued at approximately $3,407,000. Ligand Pharmaceuticals accounts for 1.7% of Acuitas Investments LLC's investment portfolio, making the stock its 13th largest position. Acuitas Investments LLC owned about 0.27% of Ligand Pharmaceuticals at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of LGND. China Universal Asset Management Co. Ltd. boosted its stake in shares of Ligand Pharmaceuticals by 95.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 441 shares of the biotechnology company's stock valued at $26,000 after buying an additional 215 shares during the period. Cetera Trust Company N.A acquired a new stake in shares of Ligand Pharmaceuticals during the 4th quarter valued at $157,000. Advisor Resource Council acquired a new stake in shares of Ligand Pharmaceuticals during the 4th quarter valued at $200,000. Mutual of America Capital Management LLC acquired a new stake in shares of Ligand Pharmaceuticals during the 4th quarter valued at $205,000. Finally, Legato Capital Management LLC acquired a new stake in shares of Ligand Pharmaceuticals during the 4th quarter valued at $212,000. Institutional investors and hedge funds own 91.28% of the company's stock.

Insider Buying and Selling

In related news, Director Stephen L. Sabba sold 1,893 shares of Ligand Pharmaceuticals stock in a transaction on 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 in the company, valued at approximately $2,149,201.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 10.40% of the company's stock.

Ligand Pharmaceuticals Stock Performance

Shares of Ligand Pharmaceuticals stock traded up $1.11 during midday trading on Wednesday, reaching $71.00. 152,954 shares of the company's stock traded hands, compared to its average volume of 159,601. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 25.82 and a beta of 1.01. The company's 50 day simple moving average is $74.93 and its 200 day simple moving average is $67.95. Ligand Pharmaceuticals Incorporated has a 52 week low of $49.24 and a 52 week high of $94.57.

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

Wall Street Analysts Forecast Growth

LGND has been the subject of a number of research reports. HC Wainwright reissued a "buy" rating and set a $144.00 target price on shares of Ligand Pharmaceuticals in a research note on Thursday, February 29th. Benchmark restated a "buy" rating and set a $95.00 price target on shares of Ligand Pharmaceuticals in a report on Friday, April 12th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Ligand Pharmaceuticals has an average rating of "Moderate Buy" and an average target price of $116.33.

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.

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