Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Has $192,000 Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) by 7.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,227 shares of the biotechnology company’s stock after acquiring an additional 149 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Ligand Pharmaceuticals were worth $192,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LGND. Venture Visionary Partners LLC acquired a new position in shares of Ligand Pharmaceuticals in the second quarter valued at about $36,000. KBC Group NV acquired a new position in shares of Ligand Pharmaceuticals in the second quarter valued at about $128,000. Advisor Group Holdings Inc. grew its stake in shares of Ligand Pharmaceuticals by 10.6% in the first quarter. Advisor Group Holdings Inc. now owns 1,341 shares of the biotechnology company’s stock valued at $151,000 after acquiring an additional 128 shares in the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Ligand Pharmaceuticals in the third quarter valued at about $200,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Ligand Pharmaceuticals by 37.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,666 shares of the biotechnology company’s stock valued at $229,000 after acquiring an additional 724 shares in the last quarter. 87.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on LGND. Benchmark decreased their price target on shares of Ligand Pharmaceuticals to $95.00 in a research note on Tuesday, November 15th. StockNews.com upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a research note on Thursday, November 3rd. Barclays reduced their price objective on shares of Ligand Pharmaceuticals from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, November 21st. Finally, Roth Capital increased their target price on shares of Ligand Pharmaceuticals from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, December 23rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Ligand Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Ligand Pharmaceuticals Trading Down 0.7 %

LGND stock opened at $70.42 on Monday. The firm has a 50-day moving average price of $69.34 and a 200-day moving average price of $83.50. The stock has a market capitalization of $1.19 billion, a P/E ratio of -56.79, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10. Ligand Pharmaceuticals Incorporated has a 12 month low of $57.77 and a 12 month high of $128.51.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Rating) last issued its quarterly earnings data on Monday, November 7th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.29). The business had revenue of $66.09 million during the quarter, compared to the consensus estimate of $38.47 million. Ligand Pharmaceuticals had a negative net margin of 8.62% and a positive return on equity of 2.57%. As a group, equities analysts predict that Ligand Pharmaceuticals Incorporated will post 2.35 EPS for the current fiscal year.

Insider Activity at Ligand Pharmaceuticals

In related news, CEO John L. Higgins sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $78.32, for a total value of $783,200.00. Following the completion of the transaction, the chief executive officer now owns 416,731 shares in the company, valued at approximately $32,638,371.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO John L. Higgins sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 17th. The shares were sold at an average price of $78.32, for a total value of $783,200.00. Following the completion of the transaction, the chief executive officer now owns 416,731 shares in the company, valued at approximately $32,638,371.92. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Octavio Espinoza sold 1,696 shares of the stock in a transaction that occurred on Wednesday, November 9th. The shares were sold at an average price of $75.64, for a total transaction of $128,285.44. Following the sale, the chief financial officer now directly owns 8,857 shares of the company’s stock, valued at approximately $669,943.48. The disclosure for this sale can be found here. Insiders sold a total of 21,696 shares of company stock worth $1,530,185 in the last quarter. 10.40% of the stock is owned by insiders.

Ligand Pharmaceuticals 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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Institutional Ownership by Quarter for Ligand Pharmaceuticals (NASDAQ:LGND)

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