Acuitas Investments LLC Takes $3.41 Million Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Acuitas Investments LLC purchased a new stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 47,703 shares of the biotechnology company’s stock, valued at approximately $3,407,000. Ligand Pharmaceuticals makes up 1.7% of Acuitas Investments LLC’s holdings, making the stock its 13th biggest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in LGND. China Universal Asset Management Co. Ltd. boosted its holdings in shares of Ligand Pharmaceuticals by 95.1% in the third 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 position in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $157,000. Advisor Resource Council acquired a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $200,000. Mutual of America Capital Management LLC acquired a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $205,000. Finally, Legato Capital Management LLC acquired a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $212,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Wall Street Analysts Forecast Growth

LGND has been the subject of several recent research reports. HC Wainwright restated a “buy” rating and set a $144.00 target price on shares of Ligand Pharmaceuticals in a report on Thursday, February 29th. Benchmark restated a “buy” rating and set a $95.00 target price 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $116.33.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Stephen L. Sabba sold 1,893 shares of the 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 completion of the sale, the director now owns 28,926 shares in the company, valued at $2,149,201.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 10.40% of the company’s stock.

Ligand Pharmaceuticals Stock Up 1.6 %

LGND traded up $1.11 during trading hours on Wednesday, hitting $71.00. 152,954 shares of the company’s stock were exchanged, compared to its average volume of 159,601. Ligand Pharmaceuticals Incorporated has a 1-year low of $49.24 and a 1-year high of $94.57. The stock’s 50-day moving average is $74.93 and its two-hundred day moving average is $67.95. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 25.82 and a beta of 1.01.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.55. The firm had revenue of $28.10 million during the quarter, compared to analysts’ expectations of $24.54 million. Ligand Pharmaceuticals had a net margin of 37.80% and a return on equity of 11.98%. On average, equities research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.41 EPS for the current year.

Ligand Pharmaceuticals 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.