Mutual of America Capital Management LLC Has $271,000 Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Mutual of America Capital Management LLC raised its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND – Get Rating) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,407 shares of the biotechnology company’s stock after purchasing an additional 123 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Ligand Pharmaceuticals were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LGND. Allspring Global Investments Holdings LLC acquired a new stake in shares of Ligand Pharmaceuticals in the 4th quarter valued at about $2,826,000. Commonwealth Equity Services LLC increased its position in shares of Ligand Pharmaceuticals by 311.7% in the fourth quarter. Commonwealth Equity Services LLC now owns 6,348 shares of the biotechnology company’s stock valued at $980,000 after acquiring an additional 4,806 shares during the last quarter. Yousif Capital Management LLC acquired a new stake in shares of Ligand Pharmaceuticals in the fourth quarter valued at about $2,411,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Ligand Pharmaceuticals by 26.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,146 shares of the biotechnology company’s stock valued at $331,000 after acquiring an additional 454 shares during the last quarter. Finally, Fifth Third Bancorp increased its position in shares of Ligand Pharmaceuticals by 5,544.8% in the fourth quarter. Fifth Third Bancorp now owns 4,911 shares of the biotechnology company’s stock valued at $759,000 after acquiring an additional 4,824 shares during the last quarter. Institutional investors and hedge funds own 96.61% of the company’s stock.

Ligand Pharmaceuticals Trading Down 2.5 %

Shares of NASDAQ:LGND opened at $89.70 on Tuesday. Ligand Pharmaceuticals Incorporated has a 12-month low of $72.57 and a 12-month high of $169.98. The stock has a market cap of $1.51 billion, a PE ratio of 65.00, a P/E/G ratio of 9.16 and a beta of 1.12. The business has a 50 day moving average of $87.99 and a 200-day moving average of $99.46. The company has a quick ratio of 5.88, a current ratio of 6.48 and a debt-to-equity ratio of 0.22.

Ligand Pharmaceuticals (NASDAQ:LGND – Get Rating) last issued its quarterly earnings data on Wednesday, May 4th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.04). Ligand Pharmaceuticals had a return on equity of 8.29% and a net margin of 9.00%. The firm had revenue of $45.70 million for the quarter, compared to the consensus estimate of $34.21 million. During the same quarter in the prior year, the firm earned $1.03 EPS. The company’s revenue was down 17.2% on a year-over-year basis. As a group, equities research analysts forecast that Ligand Pharmaceuticals Incorporated will post 0.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on LGND shares. BMO Capital Markets started coverage on Ligand Pharmaceuticals in a research report on Thursday, June 16th. They issued an “outperform” rating on the stock. Stephens lowered their target price on Ligand Pharmaceuticals to $130.00 and set a “na” rating on the stock in a research report on Monday, May 16th. Craig Hallum lowered their target price on Ligand Pharmaceuticals from $215.00 to $160.00 in a research report on Thursday, May 5th. StockNews.com downgraded Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, June 15th. Finally, Barclays lowered their price target on Ligand Pharmaceuticals from $165.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.40.

Insider Transactions at Ligand Pharmaceuticals

In other news, COO Matthew W. Foehr acquired 2,500 shares of Ligand Pharmaceuticals stock in a transaction dated Friday, May 13th. The stock was bought at an average price of $82.76 per share, for a total transaction of $206,900.00. Following the completion of the acquisition, the chief operating officer now directly owns 173,354 shares in the company, valued at approximately $14,346,777.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 10.40% of the company’s stock.

Ligand Pharmaceuticals Company Profile

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Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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