PNC Financial Services Group Inc. Has $131,000 Stock Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) (2024)

Posted by ABMN Staff on Jul 5th, 2024

PNC Financial Services Group Inc. Has $131,000 Stock Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) (1)PNC Financial Services Group Inc. grew its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDFree Report) by 32.4% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,840 shares of the biotechnology company’s stock after acquiring an additional 450 shares during the period. PNC Financial Services Group Inc.’s holdings in Ligand Pharmaceuticals were worth $131,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. Franklin Resources Inc. lifted its holdings in Ligand Pharmaceuticals by 3.2% during the fourth quarter. Franklin Resources Inc. now owns 14,066 shares of the biotechnology company’s stock worth $1,005,000 after acquiring an additional 438 shares in the last quarter. Principal Securities Inc. acquired a new stake in shares of Ligand Pharmaceuticals during the fourth quarter worth about $53,000. Kennedy Capital Management LLC lifted its holdings in shares of Ligand Pharmaceuticals by 3.5% during the 3rd quarter. Kennedy Capital Management LLC now owns 35,699 shares of the biotechnology company’s stock valued at $2,139,000 after purchasing an additional 1,215 shares in the last quarter. Scarborough Advisors LLC acquired a new position in shares of Ligand Pharmaceuticals in the 4th quarter valued at approximately $107,000. Finally, Isthmus Partners LLC increased its stake in Ligand Pharmaceuticals by 4.7% during the 4th quarter. Isthmus Partners LLC now owns 34,347 shares of the biotechnology company’s stock worth $2,453,000 after purchasing an additional 1,530 shares in the last quarter. Institutional investors own 91.28% of the company’s stock.

Ligand Pharmaceuticals Stock Down 2.5 %

Shares of LGND opened at $82.70 on Friday. Ligand Pharmaceuticals Incorporated has a twelve month low of $49.24 and a twelve month high of $94.57. The stock has a market capitalization of $1.49 billion, a P/E ratio of 16.00 and a beta of 1.01. The company has a 50 day moving average of $81.39 and a 200-day moving average of $76.49.

Ligand Pharmaceuticals (NASDAQ:LGNDGet Free Report) last announced its earnings results on Tuesday, May 7th. The biotechnology company reported $3.84 EPS for the quarter, topping the consensus estimate of $0.83 by $3.01. Ligand Pharmaceuticals had a net margin of 79.30% and a return on equity of 8.52%. The business had revenue of $30.90 million during the quarter, compared to analysts’ expectations of $27.92 million. During the same quarter in the prior year, the company posted $1.96 earnings per share. The firm’s revenue was down 29.8% on a year-over-year basis. On average, sell-side analysts anticipate that Ligand Pharmaceuticals Incorporated will post 3.54 earnings per share for the current fiscal year.

Insider Activity at Ligand Pharmaceuticals

In related news, CFO Octavio Espinoza sold 5,873 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $86.01, for a total transaction of $505,136.73. Following the sale, the chief financial officer now owns 23,882 shares in the company, valued at $2,054,090.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Octavio Espinoza sold 5,873 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $86.01, for a total transaction of $505,136.73. Following the transaction, the chief financial officer now directly owns 23,882 shares in the company, valued at $2,054,090.82. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Nancy Ryan Gray sold 934 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $83.20, for a total transaction of $77,708.80. Following the sale, the director now directly owns 5,633 shares in the company, valued at $468,665.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,403 shares of company stock valued at $2,150,882. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

LGND has been the topic of a number of research reports. HC Wainwright reaffirmed a “buy” rating and issued a $144.00 price target on shares of Ligand Pharmaceuticals in a research note on Thursday, June 27th. Benchmark restated a “buy” rating and set a $95.00 price objective on shares of Ligand Pharmaceuticals in a report on Friday, June 28th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $116.33.

Check Out Our Latest Stock Analysis on LGND

About Ligand Pharmaceuticals

(Free Report)

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.

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Want to see what other hedge funds are holding LGND? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Ligand Pharmaceuticals Incorporated (NASDAQ:LGNDFree Report).

PNC Financial Services Group Inc. Has $131,000 Stock Holdings in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) (2)

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