China Universal Asset Management Co. Ltd. Boosts Stock Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

China Universal Asset Management Co. Ltd. boosted its holdings in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 66.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,514 shares of the biotechnology company’s stock after purchasing an additional 1,402 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Ligand Pharmaceuticals were worth $352,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LGND. Innealta Capital LLC purchased a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter valued at about $31,000. Rothschild Investment LLC bought a new stake in Ligand Pharmaceuticals during the second quarter worth approximately $34,000. Headlands Technologies LLC raised its position in Ligand Pharmaceuticals by 21.7% during the second quarter. Headlands Technologies LLC now owns 758 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 135 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Ligand Pharmaceuticals by 23.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 661 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 125 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. purchased a new position in shares of Ligand Pharmaceuticals in the 2nd quarter worth approximately $67,000. Institutional investors own 91.28% of the company’s stock.

Insider Transactions at Ligand Pharmaceuticals

In related news, COO Matthew E. Korenberg sold 9,772 shares of Ligand Pharmaceuticals stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $101.22, for a total value of $989,121.84. Following the completion of the sale, the chief operating officer now directly owns 50,777 shares in the company, valued at $5,139,647.94. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Ligand Pharmaceuticals news, COO Matthew E. Korenberg sold 9,772 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $101.22, for a total transaction of $989,121.84. Following the transaction, the chief operating officer now owns 50,777 shares of the company’s stock, valued at approximately $5,139,647.94. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Todd C. Davis purchased 2,500 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, August 8th. The stock was acquired at an average price of $97.39 per share, with a total value of $243,475.00. Following the acquisition, the chief executive officer now owns 123,010 shares in the company, valued at approximately $11,979,943.90. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 51,613 shares of company stock valued at $5,255,692. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on LGND. Craig Hallum raised their price target on Ligand Pharmaceuticals from $135.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. HC Wainwright raised their target price on shares of Ligand Pharmaceuticals from $144.00 to $157.00 and gave the stock a “buy” rating in a report on Monday, October 21st. Barclays upped their price target on shares of Ligand Pharmaceuticals from $110.00 to $125.00 and gave the company an “overweight” rating in a report on Monday. Benchmark raised their price objective on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $130.00 target price on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 7th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $132.83.

Ligand Pharmaceuticals Price Performance

Shares of LGND opened at $109.81 on Thursday. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of 21.24 and a beta of 1.00. The company has a 50-day moving average of $104.14 and a 200 day moving average of $93.30. Ligand Pharmaceuticals Incorporated has a 1-year low of $50.87 and a 1-year high of $115.53.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings results on Tuesday, August 6th. The biotechnology company reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.06 by $0.34. Ligand Pharmaceuticals had a return on equity of 7.91% and a net margin of 29.69%. The firm had revenue of $41.50 million during the quarter, compared to analyst estimates of $33.04 million. During the same quarter in the previous year, the business earned $1.10 earnings per share. Ligand Pharmaceuticals’s quarterly revenue was up 57.2% on a year-over-year basis. On average, equities analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.47 earnings per share for the current fiscal year.

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.