Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Position Maintained by Security Asset Management

Security Asset Management held its stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,000 shares of the biotechnology company’s stock at the end of the second quarter. Security Asset Management’s holdings in Ligand Pharmaceuticals were worth $364,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank purchased a new stake in Ligand Pharmaceuticals during the fourth quarter worth approximately $19,500,000. Macquarie Group Ltd. raised its stake in Ligand Pharmaceuticals by 20.5% in the fourth quarter. Macquarie Group Ltd. now owns 329,165 shares of the biotechnology company’s stock worth $33,446,000 after buying an additional 56,040 shares in the last quarter. Capstone Asset Management Co. raised its stake in Ligand Pharmaceuticals by 4.6% in the first quarter. Capstone Asset Management Co. now owns 2,713 shares of the biotechnology company’s stock worth $287,000 after buying an additional 120 shares in the last quarter. Campbell Newman Asset Management Inc. raised its stake in Ligand Pharmaceuticals by 13.6% in the first quarter. Campbell Newman Asset Management Inc. now owns 2,380 shares of the biotechnology company’s stock worth $252,000 after buying an additional 285 shares in the last quarter. Finally, Parametrica Management Ltd purchased a new stake in Ligand Pharmaceuticals during the first quarter worth approximately $205,000.

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) traded up 1.44% during mid-day trading on Monday, hitting $126.92. 317,731 shares of the stock were exchanged. The stock has a 50 day moving average of $121.43 and a 200-day moving average of $111.81. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 309.56 and a beta of 0.96. Ligand Pharmaceuticals Incorporated has a 52-week low of $87.50 and a 52-week high of $129.94.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Monday, August 7th. The biotechnology company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.42. The firm had revenue of $28 million during the quarter, compared to the consensus estimate of $24.40 million. Ligand Pharmaceuticals had a return on equity of 5.05% and a net margin of 7.39%. The firm’s quarterly revenue was up 43.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.50 earnings per share. Equities analysts predict that Ligand Pharmaceuticals Incorporated will post $2.95 EPS for the current fiscal year.

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LGND has been the subject of several research reports. Deutsche Bank AG restated a “hold” rating and issued a $103.00 price objective (up from $100.00) on shares of Ligand Pharmaceuticals in a report on Monday, July 17th. BidaskClub lowered shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. TheStreet upgraded shares of Ligand Pharmaceuticals from a “c” rating to a “b-” rating in a report on Monday, August 7th. ValuEngine upgraded shares of Ligand Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded shares of Ligand Pharmaceuticals from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 11th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $133.71.

In other Ligand Pharmaceuticals news, CEO John L. Higgins sold 4,666 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $120.00, for a total value of $559,920.00. Following the transaction, the chief executive officer now owns 143,837 shares in the company, valued at $17,260,440. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Charles S. Berkman sold 18,625 shares of Ligand Pharmaceuticals stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $126.96, for a total value of $2,364,630.00. Following the completion of the transaction, the vice president now owns 24,423 shares in the company, valued at approximately $3,100,744.08. The disclosure for this sale can be found here. Insiders sold 46,874 shares of company stock valued at $5,766,176 over the last 90 days. 14.70% of the stock is currently owned by corporate insiders.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals Incorporated (Ligand) is a biopharmaceutical company that focuses on developing and acquiring technologies that help pharmaceutical companies discover and develop medicines. The Company is involved in the development and licensing of biopharmaceutical assets. The Company employs research technologies, such as nuclear receptor assays, high throughput computer screening, formulation science, liver targeted pro-drug technologies and antibody discovery technologies to assist companies in their work toward obtaining prescription drug approvals.