Headlands Technologies LLC Has $64,000 Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Headlands Technologies LLC grew its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 21.7% during the second quarter, HoldingsChannel.com reports. The firm owned 758 shares of the biotechnology company’s stock after buying an additional 135 shares during the quarter. Headlands Technologies LLC’s holdings in Ligand Pharmaceuticals were worth $64,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $31,000. Rothschild Investment LLC acquired a new position in Ligand Pharmaceuticals during the second quarter worth $34,000. Principal Securities Inc. acquired a new position in Ligand Pharmaceuticals during the fourth quarter worth $53,000. Scarborough Advisors LLC bought a new position in Ligand Pharmaceuticals in the fourth quarter valued at $107,000. Finally, PNC Financial Services Group Inc. increased its stake in Ligand Pharmaceuticals by 32.4% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,840 shares of the biotechnology company’s stock valued at $131,000 after buying an additional 450 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Stock Up 0.2 %

LGND opened at $105.00 on Tuesday. Ligand Pharmaceuticals Incorporated has a 12-month low of $49.24 and a 12-month high of $112.13. The business has a 50 day moving average of $101.93 and a 200-day moving average of $86.62. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of 20.40 and a beta of 1.01.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 EPS for the quarter, beating the consensus estimate of $1.06 by $0.34. The firm had revenue of $41.50 million for the quarter, compared to the consensus estimate of $33.04 million. Ligand Pharmaceuticals had a net margin of 29.69% and a return on equity of 7.91%. The company’s quarterly revenue was up 57.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share. As a group, analysts expect that Ligand Pharmaceuticals Incorporated will post 3.54 earnings per share for the current year.

Insider Activity

In related news, insider Andrew Reardon sold 1,500 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $106.39, for a total value of $159,585.00. Following the completion of the sale, the insider now directly owns 22,534 shares in the company, valued at approximately $2,397,392.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Todd C. Davis purchased 2,500 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average cost of $97.39 per share, for a total transaction of $243,475.00. Following the completion of the purchase, the chief executive officer now owns 123,010 shares in the company, valued at approximately $11,979,943.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Andrew Reardon sold 1,500 shares of Ligand Pharmaceuticals stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $106.39, for a total value of $159,585.00. Following the completion of the transaction, the insider now directly owns 22,534 shares of the company’s stock, valued at $2,397,392.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,291 shares of company stock valued at $3,281,620. 5.90% of the stock is owned by insiders.

Analysts Set New Price Targets

LGND has been the subject of several analyst reports. Benchmark raised their price objective on Ligand Pharmaceuticals from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 12th. Royal Bank of Canada restated an “outperform” rating and issued a $130.00 price target on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and set a $144.00 price objective on shares of Ligand Pharmaceuticals in a research note on Thursday, August 8th. Finally, Craig Hallum increased their price objective on Ligand Pharmaceuticals from $135.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $131.00.

About Ligand Pharmaceuticals

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.