Moody National Bank Trust Division Acquires New Position in Ligand Pharmaceuticals Incorporated $LGND

Moody National Bank Trust Division acquired a new stake in shares of Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) in the second quarter, HoldingsChannel.com reports. The firm acquired 12,147 shares of the biotechnology company’s stock, valued at approximately $3,840,000.

Other large investors have also bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its stake in shares of Ligand Pharmaceuticals by 86.3% in the third quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock worth $26,000 after buying an additional 69 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of Ligand Pharmaceuticals during the fourth quarter valued at approximately $31,000. JPL Wealth Management LLC bought a new stake in shares of Ligand Pharmaceuticals during the third quarter valued at approximately $52,000. Covestor Ltd increased its position in shares of Ligand Pharmaceuticals by 17,050.0% during the fourth quarter. Covestor Ltd now owns 343 shares of the biotechnology company’s stock valued at $65,000 after acquiring an additional 341 shares in the last quarter. Finally, IFP Advisors Inc raised its holdings in Ligand Pharmaceuticals by 1,040.0% in the 4th quarter. IFP Advisors Inc now owns 342 shares of the biotechnology company’s stock worth $65,000 after acquiring an additional 312 shares during the last quarter. 91.28% of the stock is owned by hedge funds and other institutional investors.

Ligand Pharmaceuticals Stock Up 3.0%

Ligand Pharmaceuticals stock opened at $300.79 on Wednesday. Ligand Pharmaceuticals Incorporated has a one year low of $132.21 and a one year high of $326.63. The stock has a fifty day moving average of $282.10 and a 200 day moving average of $233.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 20.95 and a current ratio of 21.28. The stock has a market cap of $6.03 billion, a PE ratio of 40.81, a price-to-earnings-growth ratio of 2.89 and a beta of 1.13.

Ligand Pharmaceuticals (NASDAQ:LGND) last announced its earnings results on Thursday, May 7th. The biotechnology company reported $1.63 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.84 by ($0.21). The firm had revenue of $51.72 million during the quarter, compared to analysts’ expectations of $59.10 million. Ligand Pharmaceuticals had a return on equity of 16.19% and a net margin of 55.95%.The company’s revenue for the quarter was up 14.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.33 earnings per share. As a group, sell-side analysts predict that Ligand Pharmaceuticals Incorporated will post 4.56 EPS for the current year.

Analysts Set New Price Targets

LGND has been the topic of several recent analyst reports. Oppenheimer reiterated an “outperform” rating and set a $326.00 target price (up from $285.00) on shares of Ligand Pharmaceuticals in a research note on Monday. Bank of America upped their price target on Ligand Pharmaceuticals from $266.00 to $388.00 and gave the company a “buy” rating in a report on Thursday, July 9th. HC Wainwright lifted their price objective on Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Citigroup began coverage on Ligand Pharmaceuticals in a research report on Tuesday, July 21st. They issued a “buy” rating and a $387.00 target price for the company. Finally, Royal Bank Of Canada upped their target price on shares of Ligand Pharmaceuticals from $262.00 to $340.00 and gave the company an “outperform” rating in a research note on Wednesday, July 15th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $326.00.

Insider Buying and Selling

In related news, insider Andrew Reardon sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $227.06, for a total value of $1,135,300.00. Following the transaction, the insider owned 41,382 shares of the company’s stock, valued at approximately $9,396,196.92. This trade represents a 10.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director John L. Lamattina sold 4,591 shares of the business’s stock in a transaction that occurred on Wednesday, June 10th. The shares were sold at an average price of $250.88, for a total transaction of $1,151,790.08. Following the sale, the director owned 26,969 shares of the company’s stock, valued at $6,765,982.72. This trade represents a 14.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 35,231 shares of company stock valued at $9,199,401 in the last 90 days. 5.60% of the stock is owned by insiders.

Ligand Pharmaceuticals Company Profile

Ligand Pharmaceuticals, Inc is a biopharmaceutical company that acquires, develops and out-licenses proprietary technologies designed to help pharmaceutical and biotechnology companies discover and develop novel medicines. Operating primarily through its research services and royalty-generating businesses, Ligand focuses on building a diversified portfolio of technology platforms and partnering with industry leaders to advance therapeutic candidates across multiple disease areas.

The company’s product offerings center around several core platforms.