OLD National Bancorp IN Takes $228,000 Position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

OLD National Bancorp IN purchased a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) during the third quarter, Holdings Channel.com reports. The firm purchased 2,279 shares of the biotechnology company’s stock, valued at approximately $228,000.

A number of other large investors have also made changes to their positions in LGND. Innealta Capital LLC acquired a new position in Ligand Pharmaceuticals in the 2nd quarter valued at approximately $31,000. Rothschild Investment LLC bought a new stake in shares of Ligand Pharmaceuticals during the 2nd quarter worth $34,000. Headlands Technologies LLC boosted its holdings in shares of 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 buying an additional 135 shares during the period. Benjamin F. Edwards & Company Inc. bought a new stake in Ligand Pharmaceuticals in the 2nd quarter valued at $67,000. Finally, PNC Financial Services Group Inc. boosted its holdings 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 purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 91.28% of the company’s stock.

Insider Activity

In other Ligand Pharmaceuticals news, CEO Todd C. Davis bought 2,500 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $97.39 per share, with a total value of $243,475.00. Following the completion of the transaction, the chief executive officer now owns 123,010 shares in the company, valued at $11,979,943.90. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Ligand Pharmaceuticals news, CEO Todd C. Davis bought 2,500 shares of Ligand Pharmaceuticals stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $97.39 per share, with a total value of $243,475.00. Following the completion of the transaction, the chief executive officer now owns 123,010 shares in the company, valued at $11,979,943.90. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Octavio Espinoza sold 1,275 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $103.94, for a total transaction of $132,523.50. Following the completion of the sale, the chief financial officer now directly owns 24,610 shares of the company’s stock, valued at approximately $2,557,963.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,613 shares of company stock valued at $5,255,692. 5.90% of the stock is owned by company insiders.

Ligand Pharmaceuticals Price Performance

LGND stock opened at $106.89 on Thursday. The company has a fifty day moving average price of $103.37 and a two-hundred day moving average price of $92.32. Ligand Pharmaceuticals Incorporated has a one year low of $49.24 and a one year high of $112.13. The stock has a market cap of $1.92 billion, a price-to-earnings ratio of 20.68 and a beta of 1.00.

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

Wall Street Analyst Weigh In

LGND has been the subject of a number of recent research reports. Oppenheimer assumed coverage on shares of Ligand Pharmaceuticals in a research note on Thursday, October 3rd. They issued an “outperform” rating and a $135.00 price objective for the company. Benchmark raised their target price on shares of Ligand Pharmaceuticals from $95.00 to $110.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada reissued an “outperform” rating and set a $130.00 price objective on shares of Ligand Pharmaceuticals in a research note on Wednesday, August 7th. 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. Finally, Craig Hallum lifted their price objective on shares of Ligand Pharmaceuticals from $135.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $134.40.

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.