Handelsbanken Fonder AB Increases Stock Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

Handelsbanken Fonder AB boosted its holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,358 shares of the biotechnology company’s stock after purchasing an additional 500 shares during the quarter. Handelsbanken Fonder AB’s holdings in Ligand Pharmaceuticals were worth $536,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Innealta Capital LLC purchased a new stake in shares of Ligand Pharmaceuticals in the second quarter valued at about $31,000. Rothschild Investment LLC purchased a new stake in Ligand Pharmaceuticals during the 2nd quarter valued at approximately $34,000. Headlands Technologies LLC lifted its position in Ligand Pharmaceuticals by 21.7% during the 2nd quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock worth $64,000 after acquiring an additional 135 shares during the period. Benjamin F. Edwards & Company Inc. purchased a new position in shares of Ligand Pharmaceuticals in the 2nd quarter valued at approximately $67,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals in the fourth quarter valued at approximately $107,000. Institutional investors and hedge funds own 91.28% of the company’s stock.

Ligand Pharmaceuticals Trading Up 2.6 %

Shares of Ligand Pharmaceuticals stock opened at $102.94 on Monday. The company has a 50-day moving average of $102.25 and a two-hundred day moving average of $90.69. Ligand Pharmaceuticals Incorporated has a 12-month low of $49.24 and a 12-month high of $112.13. The stock has a market cap of $1.85 billion, a PE ratio of 19.91 and a beta of 1.00.

Ligand Pharmaceuticals (NASDAQ:LGND) last issued its quarterly earnings data on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.06 by $0.34. The firm had revenue of $41.50 million during the quarter, compared to analysts’ expectations of $33.04 million. Ligand Pharmaceuticals had a return on equity of 7.91% and a net margin of 29.69%. Ligand Pharmaceuticals’s revenue was up 57.2% on a year-over-year basis. During the same period in the previous year, the firm posted $1.10 earnings per share. On average, sell-side analysts forecast that Ligand Pharmaceuticals Incorporated will post 3.73 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on LGND shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $130.00 price objective on shares of Ligand Pharmaceuticals in a research report on Wednesday, August 7th. Benchmark lifted their target price on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the company a “buy” rating in a report on Monday, August 12th. Craig Hallum increased their price target on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. HC Wainwright reaffirmed a “buy” rating and issued a $144.00 price objective on shares of Ligand Pharmaceuticals in a report on Thursday, August 8th. Finally, Oppenheimer initiated coverage on Ligand Pharmaceuticals in a report on Thursday, October 3rd. They issued an “outperform” rating and a $135.00 price target for the company. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $131.80.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 1,157 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $105.54, for a total value of $122,109.78. Following the sale, the chief operating officer now owns 67,211 shares of the company’s stock, valued at $7,093,448.94. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Andrew Reardon sold 1,500 shares of the stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $106.39, for a total transaction of $159,585.00. Following the sale, the insider now owns 22,534 shares of the company’s stock, valued at $2,397,392.26. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Matthew E. Korenberg sold 1,157 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $105.54, for a total transaction of $122,109.78. Following the completion of the transaction, the chief operating officer now directly owns 67,211 shares of the company’s stock, valued at $7,093,448.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,613 shares of company stock valued at $5,255,692. Insiders own 5.90% of the company’s stock.

Ligand Pharmaceuticals Company 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.