Los Angeles Capital Management LLC Boosts Stake in Ligand Pharmaceuticals Incorporated $LGND

Los Angeles Capital Management LLC raised its position in Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) by 118.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,321 shares of the biotechnology company’s stock after buying an additional 5,587 shares during the period. Los Angeles Capital Management LLC owned 0.05% of Ligand Pharmaceuticals worth $1,931,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LGND. CIBC Private Wealth Group LLC increased its stake in Ligand Pharmaceuticals by 86.3% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 149 shares of the biotechnology company’s stock valued at $26,000 after buying an additional 69 shares during the last quarter. USA Financial Formulas purchased a new stake in shares of Ligand Pharmaceuticals during the 4th quarter worth approximately $43,000. Smartleaf Asset Management LLC raised its holdings in shares of Ligand Pharmaceuticals by 31.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 271 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 65 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Ligand Pharmaceuticals in the 3rd quarter worth approximately $52,000. Finally, Covestor Ltd raised its holdings in shares of Ligand Pharmaceuticals by 17,050.0% in the 4th quarter. Covestor Ltd now owns 343 shares of the biotechnology company’s stock worth $65,000 after purchasing an additional 341 shares during the period. Hedge funds and other institutional investors own 91.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on LGND. Oppenheimer lifted their price target on shares of Ligand Pharmaceuticals from $275.00 to $277.00 and gave the stock an “outperform” rating in a report on Friday, February 27th. Royal Bank Of Canada lifted their price target on shares of Ligand Pharmaceuticals from $252.00 to $262.00 and gave the stock an “outperform” rating in a report on Friday, May 8th. Bank of America began coverage on shares of Ligand Pharmaceuticals in a report on Wednesday, March 11th. They issued a “buy” rating and a $244.00 price target on the stock. Wall Street Zen cut shares of Ligand Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, HC Wainwright lifted their price target on shares of Ligand Pharmaceuticals from $243.00 to $289.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $257.71.

Ligand Pharmaceuticals Stock Up 2.3%

Ligand Pharmaceuticals stock opened at $243.28 on Wednesday. Ligand Pharmaceuticals Incorporated has a 1-year low of $106.29 and a 1-year high of $247.38. The firm has a market capitalization of $4.88 billion, a price-to-earnings ratio of 33.01, a P/E/G ratio of 2.53 and a beta of 1.17. The company has a current ratio of 21.28, a quick ratio of 20.95 and a debt-to-equity ratio of 0.45. The firm has a 50 day simple moving average of $222.27 and a 200 day simple moving average of $205.66.

Ligand Pharmaceuticals (NASDAQ:LGND) last released its quarterly earnings data on Thursday, May 7th. The biotechnology company reported $1.63 earnings per share for the quarter, missing analysts’ consensus estimates of $1.84 by ($0.21). The business had revenue of $51.72 million during the quarter, compared to analysts’ expectations of $59.10 million. Ligand Pharmaceuticals had a net margin of 55.95% and a return on equity of 16.19%. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.33 earnings per share. On average, analysts predict that Ligand Pharmaceuticals Incorporated will post 4.47 earnings per share for the current year.

Insider Activity

In other news, Director John W. Kozarich sold 1,575 shares of the business’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $223.50, for a total transaction of $352,012.50. Following the completion of the transaction, the director directly owned 41,786 shares in the company, valued at $9,339,171. The trade was a 3.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen L. Sabba sold 1,000 shares of the business’s stock in a transaction on Monday, March 23rd. The shares were sold at an average price of $207.87, for a total transaction of $207,870.00. Following the transaction, the director owned 32,793 shares of the company’s stock, valued at $6,816,680.91. This trade represents a 2.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 18,968 shares of company stock worth $4,163,441 in the last three months. Corporate insiders own 7.00% of the company’s stock.

About Ligand Pharmaceuticals

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.