Mutual of America Capital Management LLC Has $271,000 Stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND)

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Mutual of America Capital Management LLC boosted its stake in Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDGet Rating) by 5.4% in the first quarter, HoldingsChannel.com reports. The firm owned 2,407 shares of the biotechnology company’s stock after buying an additional 123 shares during the period. Mutual of America Capital Management LLC’s holdings in Ligand Pharmaceuticals were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. TownSquare Capital LLC boosted its position in Ligand Pharmaceuticals by 19.2% during the first quarter. TownSquare Capital LLC now owns 4,299 shares of the biotechnology company’s stock valued at $484,000 after acquiring an additional 692 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Ligand Pharmaceuticals by 9.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 4,540 shares of the biotechnology company’s stock valued at $527,000 after acquiring an additional 400 shares during the last quarter. Comerica Bank boosted its position in Ligand Pharmaceuticals by 1.6% during the first quarter. Comerica Bank now owns 14,257 shares of the biotechnology company’s stock valued at $1,465,000 after acquiring an additional 225 shares during the last quarter. AMI Asset Management Corp boosted its position in Ligand Pharmaceuticals by 5.2% during the first quarter. AMI Asset Management Corp now owns 42,551 shares of the biotechnology company’s stock valued at $4,787,000 after acquiring an additional 2,088 shares during the last quarter. Finally, Welch & Forbes LLC bought a new stake in Ligand Pharmaceuticals during the first quarter valued at $442,000. 96.61% of the stock is currently owned by institutional investors and hedge funds.

Ligand Pharmaceuticals Price Performance

Shares of NASDAQ LGND opened at $89.70 on Tuesday. Ligand Pharmaceuticals Incorporated has a fifty-two week low of $72.57 and a fifty-two week high of $169.98. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 65.00, a PEG ratio of 9.16 and a beta of 1.12. The company has a debt-to-equity ratio of 0.22, a quick ratio of 5.88 and a current ratio of 6.48. The firm’s 50-day simple moving average is $87.99 and its 200 day simple moving average is $99.46.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Rating) last announced its quarterly earnings results on Wednesday, May 4th. The biotechnology company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.19 by ($0.04). Ligand Pharmaceuticals had a net margin of 9.00% and a return on equity of 8.29%. The business had revenue of $45.70 million during the quarter, compared to the consensus estimate of $34.21 million. During the same period in the previous year, the business posted $1.03 EPS. Ligand Pharmaceuticals’s revenue was down 17.2% compared to the same quarter last year. As a group, research analysts anticipate that Ligand Pharmaceuticals Incorporated will post 0.67 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

LGND has been the topic of a number of research analyst reports. Stephens cut their price target on shares of Ligand Pharmaceuticals to $130.00 and set a “na” rating on the stock in a research report on Monday, May 16th. Craig Hallum cut their price objective on shares of Ligand Pharmaceuticals from $215.00 to $160.00 in a research report on Thursday, May 5th. StockNews.com cut shares of Ligand Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Wednesday, June 15th. Barclays cut their price objective on shares of Ligand Pharmaceuticals from $165.00 to $157.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 5th. Finally, BMO Capital Markets initiated coverage on shares of Ligand Pharmaceuticals in a research report on Thursday, June 16th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $177.40.

Insider Activity at Ligand Pharmaceuticals

In other Ligand Pharmaceuticals news, COO Matthew W. Foehr purchased 2,500 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average price of $82.76 per share, with a total value of $206,900.00. Following the transaction, the chief operating officer now owns 173,354 shares in the company, valued at $14,346,777.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 10.40% of the stock is owned by insiders.

Ligand Pharmaceuticals Profile

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Ligand Pharmaceuticals Incorporated, a biopharmaceutical company, focuses on developing or acquiring technologies that help pharmaceutical companies to discover and develop medicines worldwide. Its commercial programs include Kyprolis and Evomela, which are used to treat multiple myeloma; Veklury for the treatment of moderate or severe COVID-19; Teriparatide injection product for osteoporosis; Vaxneuvance for the prevention of invasive disease caused by Streptococcus pneumoniae; and Pneumosil, a pneumococcal conjugate vaccine to help fight against pneumococcal pneumonia among children.

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