Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) Shares Sold by abrdn plc

abrdn plc cut its position in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 9.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 290,418 shares of the biotechnology company’s stock after selling 29,711 shares during the quarter. abrdn plc owned 1.67% of Ligand Pharmaceuticals worth $20,742,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in shares of Ligand Pharmaceuticals by 73.3% in the third quarter. SG Americas Securities LLC now owns 14,690 shares of the biotechnology company’s stock worth $880,000 after acquiring an additional 6,215 shares during the last quarter. BTC Capital Management Inc. raised its holdings in shares of Ligand Pharmaceuticals by 17.7% in the third quarter. BTC Capital Management Inc. now owns 4,386 shares of the biotechnology company’s stock worth $263,000 after acquiring an additional 658 shares during the last quarter. Strs Ohio raised its holdings in shares of Ligand Pharmaceuticals by 15.3% in the third quarter. Strs Ohio now owns 11,300 shares of the biotechnology company’s stock worth $677,000 after acquiring an additional 1,500 shares during the last quarter. China Universal Asset Management Co. Ltd. raised 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 worth $26,000 after acquiring an additional 215 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Ligand Pharmaceuticals by 5.6% in the third quarter. Teacher Retirement System of Texas now owns 4,650 shares of the biotechnology company’s stock worth $279,000 after acquiring an additional 246 shares during the last quarter. 91.28% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, Director Stephen L. Sabba sold 1,893 shares of the business’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $74.30, for a total transaction of $140,649.90. Following the completion of the sale, the director now owns 28,926 shares of the company’s stock, valued at $2,149,201.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.40% of the stock is owned by company insiders.

Ligand Pharmaceuticals Stock Up 2.0 %

Shares of NASDAQ:LGND opened at $69.89 on Wednesday. The company has a market cap of $1.24 billion, a P/E ratio of 25.41 and a beta of 1.01. Ligand Pharmaceuticals Incorporated has a 52 week low of $49.24 and a 52 week high of $94.57. The business has a fifty day simple moving average of $74.95 and a 200-day simple moving average of $67.86.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its quarterly earnings data 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 business had revenue of $28.10 million during the quarter, compared to the consensus estimate of $24.54 million. Ligand Pharmaceuticals had a return on equity of 11.98% and a net margin of 37.80%. Sell-side analysts expect that Ligand Pharmaceuticals Incorporated will post 3.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on LGND shares. HC Wainwright reissued a “buy” rating and issued a $144.00 price target on shares of Ligand Pharmaceuticals in a report on Thursday, February 29th. Benchmark reissued a “buy” rating and issued a $95.00 price target 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 issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $116.33.

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.